Large scale logistics property specialist, LOGOS is expanding its Asia Pacific business into New Zealand with the acquisition of a 10ha site in Wiri from Fletcher Concrete and Infrastructure Limited, a subsidiary of Fletcher Building.
LOGOS' joint managing director Trent Iliffe says the announcement is an exciting move for its business and customers.
"LOGOS' entry into New Zealand is an important and natural step in the Group's growth strategy, with the move enabling us to provide its customers with a complete Australia and New Zealand offering," says Iliffe.
"We've observed how the New Zealand industrial and logistics sector has experienced strong growth over the past few years on the back of the country's underlying economic fundamentals, increasing population and importantly the rise in e-commerce and believe there will be many opportunities to partner with our investors and tenant customers across New Zealand over the coming years. In this sense the Wiri site is an important and strategic first development for the group."
Located on the corner of Roscommon and Wiri Station Rds, the site has direct access to the South Western Motorway and is directly adjacent to the Conlinx Inland Port.
LOGOS is to develop the site, which has expansion potential, into a circa 55,000sq m logistics estate to service the growing demand from its existing and new tenant customers for modern, purpose-built and well-located facilities in this market, says Iliffe.
Joint MD John Marsh says Wiri is the key industrial suburb in Auckland which is experiencing significant growth due to its closeness to key freight routes and as the market widens from Auckland's historical industrial hubs of Penrose and Mount Wellington.
"We are in discussions with a number of existing tenant customers from our Asia Pacific portfolio to develop purpose-built opportunities on the site, including large format logistics operators, FMCG, e-commerce operators and 3PL groups. We look forward to sharing more on this in due course."