Cabot Properties Acquires Cutting-Edge Multi-Level Warehouse in Matraville

Photo Credit: Aria Property Group

Boston-based investment manager and developer Cabot Properties has made a significant move into the Australian real estate market with the acquisition of one of the country’s first multi-level warehouses. The property, currently under construction in Sydney’s Matraville, is set to become a notable addition to Cabot’s expanding portfolio.

Spanning an impressive 19,757 square meters and situated on a generous 1.94-hectare site at 42-52 Raymond Avenue, the state-of-the-art warehouse commanded a considerable price tag of approximately $150 million. 

Development on the Raymond Avenue building commenced in March 2023 and is projected to reach completion by the third quarter of 2023. The warehouse is being brought to life by Mulpha, a reputable Sydney-based property company known for its expertise in the industry.

Cabot Properties‘ acquisition of the multi-level warehouse in Matraville marks its second major investment in Australia within the past year. In a strategic move in July 2022, the Boston-based firm acquired a sprawling 9.3-hectare industrial development site in Melbourne’s Campbellfield from renowned petrol industry figure Nick Andrianakos for $41 million. 

The decision to invest in the Matraville warehouse aligns with the growing interest in multi-level warehouses across Australia. Several prominent companies, including LOGOS and the Abu Dhabi Investment Authority, have expressed intentions to venture into the multi-level warehouse sector, underscoring its promising future potential.

Once completed, the Matraville warehouse is expected to be leased to a single tenant, with logistics companies being the most likely candidates. Its strategic location positions the warehouse ideally to cater to the burgeoning e-commerce market in Sydney, meeting the increasing demand for efficient and streamlined logistics operations. 

Published 5-July-2023