Motus Transport, a prominent figure in the transportation industry, has finalised one of the largest warehouse agreements in recent times, by securing a long-term lease for a state-of-the-art office warehouse covering approximately 6,357 square metres at 1 Garigal Road, Belrose, NSW from DEXUS.
“Sydney’s North submarket has recorded significant growth in recent years, with rents jumping by 35.0% since the beginning of 2020 as demand has far outstripped supply. Reflecting this is the current vacancy rate of just 0.1% (buildings above 3,000 sqm), making it one of the tightest markets in the country” said Carl Pearce from Cushman & Wakefield, who spearheaded the transaction alongside colleague Fab Dalfonso.
The lack of leasing options and limited new supply has restricted take-up volumes in recent years, further dampened by lease renewal rates averaging close to 100% in recent years.
Given the infill nature of the Belrose and the surrounding North submarket, demand in the precinct has been strong from occupiers looking to capitalise on immediate proximity to the surrounding population base. Within 45 minutes of Belrose, 3.0 million residents can be reached, representing almost 60% of Sydney’s total population. This has underpinned demand from the transport and logistics and retail trade sectors.
1 Garigal Road boasts a high-tech industrial facility, situated at the intersection of Garigal Road, Narabang Way, and Forest Way, with the property benefiting from a high clearance warehouse. large hardstand and a mix of on-grade doors/docks, and ample parking.
Motus Director Andy Harris said "The Motus Team is thrilled to reunite under one roof in the North after a two-year quest for the ideal location. With this perfect site, we're poised to elevate our business and embrace future growth opportunities."
With its strategic location near major arterial road networks, 1 Garigal Road provides easy access to key transportation routes, conveniently positioning Motus Transport approximately 24km northwest of the Sydney CBD.
Fab Dalfonso emphasised the strategic significance of the property for Motus Transport's future growth and operational efficiency.
“Motus Transport's decision to secure 1 Garigal Road underscores its commitment to innovation, efficiency, and strategic growth. Motus Transport is poised for a dynamic future in its new state-of-the-art corporate headquarters.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit www.cushmanwakefield.com.
