Figures Sydney Industrial and Logistics Q1 2025

Key points: 

• Gross take-up over the quarter has decreased compared to 4Q24, totalling c. 91,000 sqm over 1Q25.  
• Average vacancy rate rises marginally and remains relatively low at 2.1% (as at 2H24).  
• Development supply was subdued this quarter with 112,000 sqm of new floorspace added.
• Positive rental growth was recorded over the quarter, albeit at a slower pace. Super prime net face rents have increased by 4.9% y-o-y.
• Average land values over the quarter for 0.25 ha and 1.6 ha lots have remained flat whilst 3-5 ha lots increased by 1.9% q-o-q.
• A total of AUD 546 million in investment sales has been recorded in 1Q25, across 9 transactions (for sales ≥ AUD 5 million).
• Super prime and prime midpoint yields tightened by 13 bps q-o-q and stand at 5.3% and 5.5%, respectively.