According to The Australian Financial Review, Mirvac plans to start construction next year on a new industrial estate in western Sydney's Auburn it is developing in conjunction with Morgan Stanley Real Estate Investing that seeks to tap growing demand for last-mile logistics to support the boom in online sales.
The developer has secured development approval for the 14-hectare, 300 Manchester Road, site on which it plans to build flexible warehousing, office space and small-scale facilities such as a local café, creating about 73,000sq m of new floor space.
The rise of online purchasing is putting more pressure on retailers – and their landlords – as an increasing volume of space is turned over to storage to facilitate faster local delivery of goods as consumer expectations rise.
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