Mirvac and its industrial partner, Australian Retirement Trust (ART), have celebrated the opening of IVE Group's new 42,000 square metre facility within the now fully occupied completed stages of Aspect Industrial Estate, marking major milestones for the 56-hectare precinct and reinforcing its position as a premier logistics and business hub in Western Sydney's Mamre Road corridor.
More than 200,000 square metres of industrial space across Aspect North and Aspect South has now reached practical completion and is 100 per cent leased, with the precinct attracting a diverse mix of logistics, technology, manufacturing and supply chain customers. Aspect Central, the estate's final stage, is progressing SSDA approval.
Richard Seddon, Mirvac's CEO of Investment, said the milestones at Aspect demonstrate sustained market demand for premium industrial facilities.
"Achieving 100 per cent leasing across the completed stages of Aspect and celebrating the opening of IVE Group's new facility are significant milestones that demonstrate the strength of demand for well-located, high-quality industrial assets in Western Sydney.
"Along with IVE Group, we are pleased to welcome a diverse mix of customers to Aspect Industrial Estate, including Transwin Logistics (TWL), Shiperoo, Active Managed Logistics Solutions (AMLS), CTDI and Dats. Our leasing success at Aspect Industrial Estate demonstrates that modern industrial facilities need to be more than warehouses; but complete business ecosystems with cutting-edge offices, outdoor spaces and amenities that support both operations and workforce wellbeing.
"This announcement reflects the strength of Mirvac's industrial strategy. Our continued focus on industrial development underpinned by our unique integrated model has delivered sustained growth, with net operating income up nearly 80 per cent over the past seven and a half years. With a 100 per cent Sydney‑focused industrial portfolio and further growth underpinned by under‑renting, a secured pipeline and structurally low vacancy, industrial remains a long‑term growth engine for our business."
The ~$850 million Aspect Industrial Estate is one of the largest industrial estates in the Mamre Road precinct in Western Sydney.
Michael Weaver, Australian Retirement Trust's General Manager, Mid-Risk Assets, said the fund was pleased to see the continued progress of Aspect Industrial Estate, reflecting the quality of the asset and its contribution to the local economy, while supporting long-term value creation for members.
"As a long-term investor, with over $188 billion invested in Australian assets, Australian Retirement Trust is focused on investing for strong risk-adjusted returns for members, while also supporting community and economic growth."
One of the precinct's largest completed facilities to date, IVE Group's new 42,000 square metre facility has officially opened at Aspect Industrial Estate. The purpose-built facility supports IVE Group's consolidation strategy, bringing together key operations into a state-of-the-art industrial hub designed to enable greater operational efficiency and support future growth.
Matt Aitken, Managing Director of IVE Group, said the new facility represents a significant milestone and long-term investment for the business.
"Aspect will become IVE's new supersite in Western Sydney, bringing together key operations into a state-of-the-art facility designed to support greater efficiency, innovation and future growth.
"This investment reflects our commitment to creating a world-class operational hub for our clients and our people. The scale, technology and connectivity of the precinct will give us the capability and flexibility to support continued growth, while providing a modern, high-quality environment for our teams to thrive."
The precinct's fully leased position has been driven by several significant customer commitments across multiple facilities. Shiperoo, a tech-driven fulfilment and returns startup partially owned by Australia Post is set to occupy Warehouse Two (~24,300 square metres) alongside Transwin Logistics (TWL).
Warehouse Six B has been secured by Dats, a leading Australian wholesaler supplying household, seasonal and lifestyle products to retailers, while Warehouse 7 has been secured by AMLS.
"AMLS provides national parts & accessory solutions to the Automotive sector as well as specialised B2C services to some of Australia's leading retailers. Aspect's location and quality was chosen to facilitate growth and help us better service our clients and their customers," said Craig Stanford, Director at AMLS.
Aspect Estate continues to set a benchmark for innovation and sustainability, with Australia's first 3D printed café facility also nearing completion. Warehouses One, Three and Nine are now all certified under the Green Star - Design & As Built v1.3 rating tool.
Momentum across Mirvac's industrial portfolio continues beyond Aspect, with construction recently commencing at SEED, a $2 billion industrial and enterprise precinct being delivered in partnership with Australian Retirement Trust within the Western Sydney Aerotropolis.
The project is expected to create more than 3,000 jobs across two stages and represents one of the first industrial developments to commence construction within the Aerotropolis, further strengthening Mirvac's position in Western Sydney's key growth corridors.
