Potter George has launched one of Sydney’s first multi-level industrial precinct as space tightens in the city for storage and industrial services.
The $50 million development, currently being constructed and due for completion in 2021, is set on 8,433 square metres of land in Revesby, located 29 kilometres from the CBD and near the M5 and M7 Motorways, connecting Sydney to the southern states.
Called The Mavis Quad, the development will deliver 44 industrial and 90 storage units from 18 square metres to 320 square metres, over three floors and operating 24 hours a day, seven days a week.
“We are following the example of overseas cities, which are facing a squeeze on residential and commercial land and require multi-level complexes to accommodate a wide of companies. Multi-level complexes like Mavis Quad will become the norm in these sorts of precincts in future as they only require well designed ramps for access to the higher floors and create a much smaller footprint”, Phil George, Principal of Potter George said.
Land value growth in Sydney has grown at 14 per cent annually over the last five years, with west and outer south west area growing at more than 10 per cent annually. Over the last year 650,000 square metres of new industrial land in Sydney was completed, with 30 per cent concentrated in the outer west of Sydney and located near the major transport routes.
Potter George is a private property group specialising in retail, industrial, residential and commercial developments, with its latest deal being the $19 million purchase of a development site, a 12.68ha parcel in Melbourne’s North West Suburb of Fraser Rise.