KNIGHT FRANK INFORMATION MEMORANDUM
MARKET IN CONTEXT
The Wollongong industrial market is experiencing a period of strong growth fuelled by the recent surge of e-commerce, a rising renewable sector and the continued success of major market leaders in the region such as BlueScope and NSW Ports. With Wollongong’s Port of Port Kembla uniquely positioned to service the rapidly growing south- west markets of Sydney the connectivity to the new Western Sydney International Airport will drive a further uplift in occupiers demand from transport and logistics related users, as well as increase tourism and population growth rates over the longer term.
Vacancy across the Illawarra continue to sit at relatively low levels resulting from the lack of new developments amidst strong demand from industrial occupiers seeking warehouse space. This, along with construction costs remaining at increased levels has pushed rentals higher. A traditionally tightly held market, this prime opportunity is not to be missed.
Source: NSW Department of Planning, Industry and Environment
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