DHL anchors massive new estate

The Goodman Group is set to develop a $1 billion industrial estate in western Sydney, as joint venture with brickmaker Brickworks Ltd.

The company said it has expanded its joint venture with Australia’s largest brick maker, Brickworks Ltd, to develop 333 hectares in western Sydney near Eastern Creek. The companies have already developed a number of Sydney industrial estates together.

The development, to be called Oakdale Industrial Estate, has an estimated end-value in excess of $1 billion.

The joint venture has already gained a development pre-commitment for a new 20,000-square-metre facility for DHL with an estimated on-completion value of $30.8 million.