LOGOS partners with AustralianSuper for the development
LOGOS partners with AustralianSuper for the development of 120,000sqm at Wiri Logistics Estate in New Zealand
LOGOS is pleased to announce it has established a new partnership with AustralianSuper for the development of the Wiri Logistics Estate in Auckland, New Zealand. LOGOS acquired this 10 hectare Wiri site in July 2018 and commenced the development of the Estate’s first facility in April this year.
As part of this new partnership, LOGOS and AustralianSuper have also entered into an unconditional agreement to purchase an additional 14 hectares of land adjoining the Estate from Fletcher Concrete and Infrastructure Limited, a subsidiary of Fletcher Building Limited. The combined 24 hectares will be transformed into a NZ$500 million prime logistics estate.
Darren Searle, LOGOS’ Head of Australia and New Zealand, said: “We are pleased to be welcoming AustralianSuper, Australia’s biggest superannuation fund, to the Wiri Logistics Estate.
“AustralianSuper’s investment highlights the increasing strength of the New Zealand industrial and logistics sector, which has seen renewed growth over the past few years on the back of the country’s underlying economic fundamentals, increasing population and, importantly, the rise in e-commerce.
“More than 200 jobs will be created over the course of the Estate’s development and we look forward to working with AustralianSuper on transforming this site into a prime logistics estate offering up to 120,000sqm of quality logistics space for Auckland,” he added.
LOGOS has commenced the development of the Estate’s first tenancy, a purpose built 15,700sqm facility for Hilton Foods New Zealand (Hilton) at the Estate, with Hilton committing to a 25 year pre-lease. LOGOS recently completed a 45,000sqm purpose-built food processing and distribution facility for Hilton in Brisbane, Australia, with the acquisition of the Wiri site in line with the Group’s strategy of supporting the growth plans of its existing tenant customers.
AustralianSuper Head of Property, Bevan Towning, said this partnership was a great opportunity for the Fund to grow its investment footprint in New Zealand and deliver strong, long-term returns for members.
“We are very pleased to invest in the New Zealand logistics sector alongside partners LOGOS and look forward to a long-term relationship,” Mr Towning said.
The Wiri Logistics Estate is located on the corner of Roscommon and Wiri Station roads and offers direct access to Auckland’s key arterial roads and motorways, as well as the Conlinx Inland Port that services the Ports of Auckland.
LOGOS is currently in discussion with a number of new and existing tenant customers to develop purpose-built opportunities on the site, including large format logistics operators, FMCG, e-commerce operators and 3PL groups, with further announcements to be made in due course.
LOGOS is a dynamic and growing logistics specialist with operations across New Zealand, Australia, China, Singapore, Indonesia, Malaysia and India . We manage every aspect of logistics real estate, from sourcing land or facilities to undertaking development and asset management, on behalf of some of the world’s leading global real estate investors. We have A$4.5 billion of equity commitments to 16 ventures with a targeted end-value of Assets Under Management of over A$9.8 billion.
AustralianSuper manages more than $150 billion of members’ retirement savings on behalf of more than 2.2 million members from around 280,000 businesses. One in 10 working Australians are a member of AustralianSuper, the nation’s largest superannuation fund.