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INDUSTRIAL

ASPECT INDUSTRIAL ESTATE

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 $1 billion upgrades 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, with 9 warehouses progressively being completed. The first three buildings, totalling approximately 122,000 square meters have been completed and are 100% leased.

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

Summary information

Acquisition/Agreement Date Dec-19 & Dec-21
Last External Valuation Date Dec-24
Valuation at 31-DEC-24 $101m
Expected Development Value On Completion ~$820m
Target Completion FY24+ (staged completions)
1. Represents the IPUC book value for remaining Aspect North, South & Central in development, excludes any interest in the asset held in inventories.
2. Represents 100% expected end value including completed buildings, subject to various factors outside of Mirvac’s control such as planning, market conditions, construction cost escalation, supply chain risks, weather and other uncertainties.

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.