Region. Speculative projects

A CB Richard Ellis review highlights that close to 29,000 square metres of Western Sydney industrial space has been leased in two separate transactions which are expected to bring forward speculative development projects. The larger of the recent lease deals involves specialist furniture importer, Matt Blatt, which has relocated its Australian headquarters from Marrickville to Regents Park Estate after striking a 14,567 square metre lease agreement. Mail and logistics services business, Quantium Solutions, at Riverwood, has committed to five-year lease at Smithfield. CBRE’s Shaun Timbrell said the deals highlighted a growing trend for South Sydney tenants to make the shift west.