A substantial site within a tightly held Sydney industrial precinct has come to market and is expected to top $175 million.
The 71,800 sqm site at 77 Denison Street, Banksmeadow, represents a generational opportunity with significant development potential, according to Colliers, which is handling the sale, led by Michael Crombie and Trent Gallagher.
“This landholding is renowned not only for its prime location within one of Banksmeadow’s most tightly held industrial precincts, but also for being home to the historic Botany Industrial Park (BIP),” the agents said.
“Established in the 1940s, BIP became a cornerstone of Australia’s chemical industry.
“Originally owned by ICI Australia, it was subdivided in 1998, resulting in multiple owners.
“As of 2024, key stakeholders were Indorama Ventures and two third-party owners, and IXOM was also operating onsite.”
The park includes industrial facilities and infrastructure. A third-party owner manages groundwater treatment and legacy waste.
However, major changes are under way after the shutdown of Qenos and Indorama operations. ESR, who had acquired Qenos’s land, was now planning a major redevelopment to transform BIP into one of Sydney’s largest industrial and logistics precincts, Colliers said.
Colliers director in charge, Sydney South Michael Crombie said that with a surge of investor and developer interest for well-placed, strategically located land, the 7ha land opportunity could not come at a better time.
“The market has been waiting decades for the sell-down of the Botany Industrial Park and with the recent acquisition by ESR of the adjoining Qenos land, Indorama is now the next cab off the ranks.”
The site will be sold with a Remediation Action Plan to mitigate risks and unlock its full potential.
With flexibility and long-term development potential, it was ideal for confident developers and occupiers who wanted to explore numerous development options across multi or single-level industrial warehousing, intermodal, data centre or hardstand uses, the agents said.
Colliers national director, property sales and leasing, industrial and logistics Trent Gallagher said the South Sydney industrial market was the most land-constrained in Australia, historically characterised by a concentrated ownership base of institutional landlords.
“This significant landholding offers a rare opportunity to establish a strong foothold in this tightly held precinct through the development of either multi-level or single-level industrial warehousing.”
Colliers said following the commencement of the interest-rate-cutting cycle, investor sentiment had rebounded strongly.
Domestic and offshore capital was re-entering the market with renewed confidence, and investment activity has been projected to surpass 2024 levels as capital deployment accelerates.
“Sydney’s industrial sector continues to lead nationally, recording 284,548sq m of gross take-up (for spaces over 5000sq m) in second quarter 2025, a 20 per cent increase year-on-year. This surge underscores the city’s role as a key driver of industrial growth across Australia,” Crombie said
“In South Sydney, the ongoing supply-demand imbalance has driven significant rental growth, with net face rents rising by 84 per cent over the past five years.
“This upward trajectory reflects the premium placed on well-located, high-quality industrial assets in a market where land availability is increasingly scarce.”
The site is being offered for sale via an expressions-of-interest campaign due to close on September 3.
