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Sirona Capital to Develop Two New Sites After Securing $45m from Goldman Sachs
- Published February 15, 2016 10:33AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
14th February 2016, The Australian Financial Review by Michael Bleby
Sirona Capital has secured a $45 million investment from Goldman Sachs to develop two sites on Perth’s northern edge as freight and logistics hubs.
The two sites, with a combined $1 billion cost over the next 20 years, will play a crucial role in alleviating the shortage of large-lot freight facilities in WA, Sirona head of private equity Kelvin Flynn said.
“It’s a logical step to move into the north,” Mr Flynn told The Australian Financial Review. “We’ve got a long-term hold-and-deliver philosophy.”
Sirona is also overseeing the $220 million Kings Square development in Fremantle.
The investment by the Goldman-owned Austreo Property Ventures into the so-called Northern Gateway project will help fund the development of a150-hectare site at Muchea as a heavy vehicle services hub supporting the resources and agricultural industries in the state’s north. It will also fund a separate development on 200ha at Bullsbrook, 32 kilometres north of the Perth CBD.
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