Strong buyer interest tipped in former Boral quarry

Sydney, 7 April 2014 – Boral is moving to sell a 25.64ha former quarry site in Sydney’s Greystanes, earmarked for a major commercial and industrial estate.

CBRE’s Jason Edge and Peter Blade have been appointed as the exclusive selling agents for the western Sydney landholding, which already has a flexible masterplan approval for a significant development project known as the Quarrywest Corporate Park.

CBRE National Director, Industrial Brokerage, Jason Edge said Boral - Australia’s largest building and materials construction supplier - intended to deliver the site zoned, compacted and with services available to the eventual purchaser.

“The sale provides a rare opportunity for a developer, investor or owner to secure a landmark, well located and industrially zoned development site,” Mr Edge said.

“We are also expecting the sale to generate strong interest from large 3PL providers, who could utilise the site to develop a major campus estate, as well as other major corporates and occupiers from a wide range of industry groups.”

The site represents the last phase of the award winning Greystanes Estate.

“Given the interest we understand is now present, we look forward to CBRE delivering a great result for Boral,” said Brian Tasker, Boral’s National General Manager - Property.

The land forms part of the former Prospect Quarry which until late 2007 had been in operation for more than 100 years. The balance of the quarry has already been transformed by DEXUS into the successful “Quarry Industrial Estate”.

CBRE Director, Industrial & Logistics Services, Peter Blade said Greystanes was  considered a premium corporate location and was already home to multinationals such as Boral, Cadbury Schweppes, Allied Pickfords, DHL and Laminex.

It was also a sought after location for pharmaceutical companies, with Symbion, Roche Diagnostic and Ausmedic already based in the area, which was in close proximity to several large heath care facilities.

“In addition, we expect the site to be considered by groups seeking sites for data and disaster recovery centres given the availability of reliable power and data,” Mr Blade said, adding that a major data centre was located in the adjoining business park.

“Key attributes of the Boral site include its strategic location, within 1.5km of the M4 Motorway, close proximity to the M7 corridor and with frontage to the link road through to Wetherill Park,” Mr Blade said.

Mr Blade added; “Given the strong buyer interest in the 22ha Quarantine site at Eastern Creek site, which was recently sold, and the distinct lack of opportunities to acquire large zoned sites suitable for development we expect this offering to be keenly sought after.”