Logos' chickens home to roost at $250m Perth estate
Logistics investment platform Logos is close to completing a $250 million-plus industrial estate it has been developing near Perth airport, through its latest deal struck with poultry producer Inghams for a facility of close to 10,000 square metres.
As well, Logos is riding the momentum to the finish at its 20-hectare Hazelmere Logistics Estate and has decided it will also push the button on a 19,000 sq m speculatively built facility next to the Ingham’s development.
Together, the Inghams’ warehouse and the spec build will complete development of the estate which Logos kicked off eight years ago through its acquisition of land in the Hazelmere industrial precinct, which has good access to major transport routes. Fully built, the estate will offer around 96,000 sq m of logistics space.
Logos had around $800 million in assets under management in 2015 when it secured its first pre-commitment at Hazelmere. Founded by John Marsh and Trent Iliffe, the platform has since ridden the wave of institutional interest in industrial property, expanding into the Asia Pacific region. It now manages more than $31 billion of warehouses and logistics assets.
Its growth accelerated after Singaporean fund manager ARA Asset Management took majority control in 2020. Its majority shareholder is now ESR Group, one of the biggest investment managers in Asia, which itself took over ARA Asset Management, inheriting ARA’s interest in Logos. The Logos founders also retain an ownership stake.
The backing of deep-pocketed institutions has given Logos the capacity to tap major drivers for growth in the industrial sector: the demand for automation and for temperature-controlled storage, such as the Inghams facility which will also include sustainability initiatives such as a 500 kilowatt solar system and a 455-kilolitre rainwater tank.
Success at the Perth estate follows on the heels of other headline deals over recent months, including the signing up of snack food giant Mondelez to occupy a near 43,000 sq m automated warehouse to be built in Melbourne’s west.
As well, a recent land deal at Sydney’s Eastern Creek has given Logos scope to plan a $500 million logistics estate. Also in Sydney, Logos is steering the consortium that is developing Australia’s largest intermodal facility, a $4 billion project taking shape at Moorebank in the city’s west.
