UniSuper, ISPT land a commercial property acquisition adjacent to Western Sydney Airport
Burrah Park is a 280-hectare greenfield logistics development site, located adjacent to the new Western Sydney International Airport.
In a significant off-market transaction, UniSuper and ISPT have acquired a 280-hectare greenfield logistics development site (Burrah Park) in a 50/50 joint venture. The property is located immediately adjacent to the entrance to the new Western Sydney International Airport (WSA). WSA is currently under construction, will begin 24/7 operations in 2026 and aims to eventually become Sydney’s largest airport.
The acquisition was negotiated on behalf of the purchasers by real estate investment management firm Richmond Bridge. As the largest parcel of Enterprise Zoned land within the Western Sydney Aerotropolis, the site offers unparalleled development flexibility and is primed to benefit from the region’s demographic and economic expansion, reinforcing its status as a premier logistics and industrial hub.
UniSuper and ISPT intend to progressively develop Burrah Park with the first stages delivering a super prime manufacturing, warehouse and logistics estate of over 400,000 sqm of Gross Floor Area (GFA) over the next seven years, and an expected value on-completion of over $3.9 billion (100% interest). In the long run, the estate could deliver over 800,000 sqm of GFA* with occupier demand supported by population growth, e-commerce and the growth in the WSA precinct. The site is poised to accommodate a diverse and complementary range of occupants given the strategic importance of this location. The new estate will aim to achieve carbon neutrality upon completion.
UniSuper’s investment in the joint venture will be managed by Richmond Bridge while ISPT’s interest will be self managed. This acquisition not only represents a significant milestone for UniSuper, ISPT and Richmond Bridge, but also signals a transformative phase in the development of land surrounding the new WSA.
UniSuper’s Senior Manager, Property Nick Stephens is very pleased to deliver this deal for members:
“This is a super prime institutional grade industrial property asset in Sydney’s tightly held western industrial precinct, adding to UniSuper’s $8 billion unlisted property portfolio. It is distinguished not only by its scale but by its strategic positioning within the Northern Gateway precinct of the Western Sydney Aerotropolis. Once developed, the property will be well positioned to leverage its prime location and maximise value for UniSuper members. The transaction highlights UniSuper’s ability to secure premium, unique investments off-market that help our members grow their retirement savings. It is a testament to UniSuper’s in-house capability and position that we are amongst only a handful of investors in Australia with the scale and execution capability to do a deal such as this.”
Will Walker Chief Investment & Development Officer from ISPT commented:
“Burrah Park represents the single largest landholding within the NSW Government’s ambitious Western Sydney Aerotropolis precinct and, given its strategically significant location, will be sought-after by organisations looking to invest and operate in this region that is set for major economic growth. Alongside our partners UniSuper and Richmond Bridge, we are committed to delivering a world class industrial precinct with tier-one sustainability credentials that will support the ongoing development of Western Sydney over the long term. This transaction demonstrates ISPT’s strong conviction in the industrial sector driven by the ongoing demand for prime-grade stock and our capability to transact on strategic assets for the benefit of our investors and their members”.
Pete Wylie of Richmond Bridge highlighted the collective effort and strategic alignment behind the transaction:
“This has been a huge collective team effort from UniSuper, ISPT, Richmond Bridge and HB&B Property to get this transaction settled. We believe this is the best industrial development site in Australia and will benefit from the enormous amount of infrastructure investment occurring in the Aerotropolis Precinct.”
*subject to planning approval
For further information please contact:
Nicole Grove
General Manager, Communications
E: ngrove@ispt.com.au
M: 0427 916 166
