Charter Hall industrial chief executive Richard Stacker said global investment conditions were continuing to drive equity into the Australian commercial property market with investors seeking exposure to the industrial sector.
Stacker also highlighted growing e-commerce activity around the nation, as well as the roll out of record infrastructure spending.
“Global investment conditions remain very favourable for the Australian commercial property market, which is competitive for high quality long leased investment assets,” Stacker said.
“We are seeing continued demand from investors who are seeking investment managers who have a proven strong track record and origination capability to provide access to high quality industrial core real estate.”
The ASX-listed fund manager currently has a $900 million development pipeline that is expected to deliver more than 550,000sq m of new logistics facilities in the coming years.
Along with developing a $150 million logistics estate at Chullora Logistics Park in Sydney, CPIF also has plans to develop a newly acquired 58.8-hectare land parcel at the MidWest Logistics Hub in Truganina in Melbourne expected to provide up to 250,000sq m of gross lettable area.
In July, CPIF also acquired a 50 per cent share in a Coles leased distribution centre at Smeaton Grange in Sydney’s south west, in partnership with the Charter Hall Core Logistics Partnership (CLP).
Behind Goodman Group, Charter Hall is the second largest owner of industrial property in Australia.