Rise Projects sets a benchmark to change the face of commercial industrial property.
Rise Projects has sold out of its development at 51-69 Leland Street Penrith, following the transformation of the site into a new thriving architecturally designed industrial precinct.
The 9,394 sqm industrial site, previously owned by PFD Food Services, was vacant and on the market for several years prior to its purchase by Rise Projects; a Sydney based residential and industrial developer in June 2020.
Rise Projects capitalised on the potential of the site and its proximity to regional infrastructure in Western Sydney by sub-dividing the site into three freehold lots that included two freestanding warehouses, and a boutique 18-unit industrial estate at 55 Leland Street.
The two free standing warehouses sized at 1,791m2 and 1,753m2 at 51 & 63 Leland Street were completed refurbished and underwent several building upgrades. 63 Leland St secured a pre lease commitment from Astor Industries and both properties were sold at auction as tenanted investments by CBRE & PRD Commercial Western Sydney. Establishing a new benchmark for sales rates for the Western Sydney industrial market.
Rise Projects Director, Daniel Pszczonka said Rise Projects recognised the site’s potential and set out to revitalise the precinct with a unique architectural design and product mix not typically seen in the Western Sydney market.
“Rise Projects identified a gap in demand for higher quality and well-designed industrial units in the industrial market in Western Sydney.
“While there has been an increase in the design standard of residential and retail property with the growth of Western Sydney, the industrial property market has lagged behind.
“Our aim was to set a new standard in industrial estate design for industrial property in Western Sydney
“Rise Commercial Estate: Penrith brings together innovative design and unit layouts that meet market demand through quality architecture features not seen before in Penrith and in Western Sydney,” said Mr Pszczonka.
55 Leland Street industrial estate provided innovative unit sizes that were designed to meet market demand and a variety of business sizes. Units ranged from 100m2 – 300m2 with a mezzanine designed to maximise warehouse space. The industrial precinct is set to capitilise on the site’s established position to benefit from future government infrastructure, such as the Western Sydney Airport and road network upgrades, to meet the market demand and current conditions. Mr Pszczonka added “We set out to create a boutique industrial precinct that had the look and feel of commercially built architectural buildings seen in commercial business districts that appealed to small to medium companies established in the area, as well as emerging new business that are capitilising on the region’s growth,” said Mr Pszczonka.
“As Australia comes out of COVID and people start to return to spend more time in an office or workplace, Rise Projects is setting out to provide industry leadership through the development an delivery of innovative good quality architectural design in industrial projects across Sydney.
“Our growth strategy centres on the revitilisation of key industrial areas in growth corridors such as Penrith and Campbelltown and new areas surrounding the future Western Sydney Airport,” said Mr Pszczonka.
Rise Projects is under construction with its latest industrial project in Western Sydney located at 561 Great Western Highway, Werrington. An 8-unit industrial precinct provides direct street frontage to the Great Western Highway and close proximity to the M4. The warehouse space ranges from 266m2-1,441m2 and is currently marketed with PRD Commercial Western Sydney and CBRE – Western Sydney for sale or lease. Construction is due for completion in March 2022.
With 5 units already sold; there is limited remaining opportunities to secure a place within this strategically located development.
For more information about Rise Projects visit: www.riseprojects.com.au
