INDUSTRIAL

ASPECT

804-882 Mamre Road, Kemps Creek, NSW 2178

Aspect Industrial Estate is a 56 hectare site located with direct frontage to Mamre Road in the Mamre Road precinct, and is set to benefit from the planned $220 million upgrade to Mamre Road. Rezoning of the precinct was achieved in June 2020 with rezoning of the Mamre Road precinct included in the second Tranche of NSW Planning Acceleration Protocol. The initial State Significant Development Application (SSD) was approved in June 2022. Construction commenced on site in 1H23.

Ownership
North: MIV JV: 51% Mirvac, 49% ART & South: 100% Mirvac

Summary information

Acquisition/Agreement Date Dec-19 & Dec-21
Last External Valuation Date Dec-23
Valuation at 31-DEC-23 $84m
Expected Development Value On Completion ~$660m
Target Completion FY24+ (staged completions)
1. Represents the IPUC book value for Aspect South, excludes any interest in the asset held in inventories. A portion of IPUC was transferred to Investment in Joint Venture (Aspect North) during the half year.
2. Represents 100% expected end value, excluding the sale of any undeveloped land, subject to various factors outside of Mirvac's control such as planning, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties. Industrial expected end values are excluding the sale of any undeveloped land.

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Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.  

Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.