Sydney, March 6 In a landmark off-market deal, superannuation giants UniSuper and ISPT have teamed up to acquire Burra Park, a sprawling 280-hectare greenfield logistics development site located at the doorstep of the soon-to-be-completed Western Sydney International Airport (WSA).
This 50/50 joint venture, facilitated by Richmond Bridge, represents a significant expansion in the Western Sydney Aerotropolis, positioning the property as a key player in Sydney’s logistics and industrial sector.
Burra Park, distinguished as the largest parcel of Enterprise Zoned land within the Aerotropolis, boasts unprecedented development flexibility.
The site’s strategic location adjacent to the WSA, which is slated to commence 24/7 operations by 2026, places it at the forefront of Sydney’s demographic and economic growth.
Over the next seven years, UniSuper and ISPT plan to develop Burra Park into a state-of-the-art manufacturing, warehouse, and logistics estate, covering over 400,000 sqm of Gross Floor Area (GFA) with an anticipated completion value exceeding $3.9 billion.
The project’s long-term vision includes the potential to expand over 800,000 sqm of GFA, catering to a wide array of businesses driven by the area’s population growth and the burgeoning e-commerce sector.
Nick Stephens, UniSuper’s Senior Manager, Property, expressed his enthusiasm for the deal, highlighting its alignment with UniSuper’s strategic investment objectives and its potential to significantly enhance member returns.
“This acquisition underscores UniSuper’s capacity to secure high-caliber, strategic assets off-market, further diversifying our $8 billion unlisted property portfolio,” Stephens stated.
ISPT’s Chief Investment & Development Officer, Will Walker, emphasized the project’s alignment with the New South Wales Government’s vision for the Western Sydney Aerotropolis. “Burra Park is set to become a leading industrial precinct, showcasing tier-one sustainability credentials and supporting the region’s long-term economic development,” Walker remarked.
Pete Wylie, representing Richmond Bridge, praised the collaborative effort behind this transaction and its significance for the future of industrial development in Australia.
“The acquisition of Burra Park marks a pivotal moment for the development of land surrounding the new WSA, promising to transform the logistics and industrial landscape of Western Sydney,” Wylie added.
This venture is not only a testament to the capabilities of UniSuper, ISPT, and Richmond Bridge but also a significant step forward in the development and economic growth of the Western Sydney region.
Both UniSuper and ISPT have expressed their commitment to achieving carbon neutrality for the estate upon completion, further emphasizing the project’s focus on sustainable development practices.
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