ISPT has appointed Vaughan Constructions to deliver two industrial facilities in Blacktown, NSW and Wacol, Queensland, with an end value in excess of $42 million.
Vaughan Constructions will deliver the circa 32,000sqm Wacol facility, for a speculative end value of $30 million, at ISPT’s Barracks at Metroplex estate, at the interchange between Centenary Highway and Ipswich Motorway south-west of Brisbane.
The project, which is being developed in a partnership between Aliro Group and ISPT, will include two freestanding warehouses spanning around 14,00sqm and targeting five tenancies, with offices, carparking and more than 14,000sqm of hardstand.
“We are very pleased to have been chosen to bring our industry expertise to construct facilities for leading funds management players ISPT and Aliro in what is a growing market for Vaughans in Queensland as the industrial sector continues its very positive upward trajectory,” said Richard Loyd, senior development manager at Vaughan, Brisbane.
Meanwhile the 32,678sqm Blacktown project, at Bessemer Business Park, will include around 12,600sqm od office and warehousing space, as well as more than 11,000sqm of hardstand.
“The local industrial market, on the back of relatively sound economic fundamentals and a fairly heavy $25 billion infrastructure program including inland rail, road and port facilities, has been travelling remarkably well in what has been difficult times,”
The Blacktown facility will include sustainability features such as LED lighting, rainwater harvesting and a 99kw solar panel system.
“We’re excited to commence this first stage of development. We look forward to working with our key partners to bring the estate to life,” said Tim Jackson, spokesperson for ISPT and acting general manager of logistics & warehousing.
Over the past 12 months, the significant uptick in e-commerce penetration has driven over $300 million in contracts for industrial works for Vaughan, spanning 100,000sqm of projects under construction or in the pipeline in NSW alone.
“We look forward to cementing our relationship with ISPT on the Blacktown project at a time when demand from both tenants and investors for such facilities is at a premium nationwide and particularly in New South Wales,” said Mark Cormack, general manager of Vaughans, NSW.
Earlier this month, ISPT successfully sold its 100 Creek Street office tower in Brisbane’s Golden Triangle for $184.7 million to Cromwell Property Group.
The Wacol project is due for a mid-2022 completion, while the Blacktown project scheduled for a February completion.
