AS INDUSTRIAL land becomes scarce and more expensive, you will begin to see more multi-story warehouses emerge.
The first such major project is about to start in Revesby, in Sydney’s west.
George Potter and Singapore developer Roxy-Pacific are embarking upon a $50 million project of over 8,000 m² – comprising 44 industrial and office units over two floors. Plus, 90 self-storage units at basement level.
It’s being driven by the rising cost and short supply of suitable land close to the Sydney CBD.
Bottom Line: This approach is quite normal throughout Asia – where there are a few suitable sites close to urban areas. And it will become more common here in Australia – with online retailers wanting to have their warehouses close to customers, for speedy delivery.