Decision to unlock 5,250 jobs at Mamre Road precinct welcomed
The Property Council of Australia has today welcomed the announcement from the NSW Government to rezone 850 hectares of future industrial land as part of the Mamre Road Precinct, with the capacity to generate up to 5,250 jobs for Western Sydney.
“Today’s announcement is a win for jobs in Western Sydney,” the Property Council’s NSW Executive Director Jane Fitzgerald said today.
“Sydney has been suffering from a chronic shortage of developable industrial land and this undersupply has driven up prices and sent opportunities for investment in logistics and warehousing to other capital cities.
“The decision from government today is the right one, and we are pleased with the overall level of collaboration across stakeholders that has occurred to make this happen.
“Through our work with members, we have discovered a genuine willingness from local landowners to unlock the potential of this precinct quickly, and in a manner that helps to deliver new jobs and improve the capacity of Western Sydney’s logistics and distribution network.”
Ian Barter, Chair of the Industrial Committee for the Property Council of Australia and General Manager, Northern Region for Frasers Property Industrial said, the positive rezoning announcement is the first step in addressing the industrial land supply shortage in Sydney and will accelerate activity in Western Sydney.
“The release of much needed rezoned industrial land in Western Sydney will help the state capitalise on growth opportunities and create thousands of much needed jobs. Demand continues to grow with more floorspace needed to support the traditional drivers of a global city as well as new drivers emerging due to the current economic environment.”
“The industrial and logistics sector is proving to be quite resilient with demand remaining strong. We are witnessing a shift in market dynamics including the acceleration of online retail, increase in demand from data centres, a renewed focus on supply chain resilience and in some cases discussions regarding the repatriation of manufacturing for high value and essential items. These factors along with traditional market fundamentals are driving capital investment in the sector with strong interest from both local and offshore groups,” Mr Barter said.
The Mamre Road Precinct amendments can be found via the NSW Department of Planning, Industry and Environment’s website here at www.planning.nsw.gov.au/mamreroad
Media contact: Michelle Guido | M 0437 315 198 | E [email protected]