Lendlease, Phoenix form new JV to develop logistics in Australia

Lendlease and private equity real estate group Phoenix Property Investors have entered into an agreement to establish a new joint venture for the industrial and logistics in Sydney’s west.

Phoenix will hold a majority interest in the joint venture, with Lendlease acting as development and investment manager.

There are strong investment opportunities in western Sydney for companies in manufacturing, transport and logistics industries, and the new precinct is expected to meet continued growth in the industrial sector, given renewed focus on supply chain resilience.

The joint venture has plans to develop an approximately 30-hectare (74-acre) site into a prime industrial and logistics precinct at St Marys in Sydney’s west.

With an end development value of A$185 million ($127 million), the proposed precinct at 75–103 Links Road is a strategic location for future industrial development that provides flexibility to develop large or small-scale logistics fa