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Mega Amazon Sydney Warehouse Deal Raises The Bar

Amazon Australia has raised the amount of industrial space locally leased to a five-year high, following an agreement to rent out a 200,000 sqm Sydney warehouse.

Reported by AFR, recent JLL figures reveal around 871,000 square metres of industrial floor space was leased in Australia between April and June.

Around 55% of industrial space leased resided in Sydney, and around a third held in Melbourne.

The news follows reports Amazon inked a deal with the Goodman Group to rent a bumper 200,000 square metre warehouse fulfilment centre space in Sydney, following a notable jump in online spending amidst the coronavirus pandemic.

 

Supermarket giants Woolworths and Coles have leases for next-generation automated and semi-automated warehouses in Melbourne and Sydney.

Analysts assert increased demand for industrial leasing locally has been prompt by a jump in online sales.

Demand is also forecast to remain robust in the second half of the year.

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