Charter Hall’s first inner-city multi-level warehouse, Ascent on Bourke, reaches practical completion

Charter Hall Group (Charter Hall or the Group) is pleased to announce that its Charter Hall Core Logistics Partnership (CLP) has reached practical completion on its first multi-level warehouse known as Ascent on Bourke in Alexandria, Sydney.

Positioned on a high-profile intersection at Gardeners Road and Bourke Road Alexandria, Ascent on Bourke is minutes from the WestConnex M8, Sydney International Airport, Port Botany and the arterial road network, and within a 60 minutes’ drive to over 90% of the Sydney metropolitan population.

The development comprises nearly 26,000sqm of logistics space across two levels, including 5,000sqm of A-grade office and wellbeing amenity, and was delivered by building partner FDC.

Ascent on Bourke is already 90% pre-leased, with Schindler and Coles Group two of its pre-committed tenant customers, building on existing partnership relationships. Only one tenancy of 2,097sqm, plus 600sqm of CBD-quality office space, remains.

Charter Hall Industrial & Logistics CEO, Richard Stacker, said, “The demand for efficient and strategically located warehousing has never been greater. The completion of our first multi-level warehouse, Ascent on Bourke, marks a shift in the logistics sector, by offering new levels of efficiency and space optimisation in highly land constrained markets.”

“Located just minutes from Sydney’s inner city, Ascent on Bourke is ideally positioned to streamline our tenant customers’ last-mile supply chains. In this fast-paced economy, where long delivery times frustrate customers and cost business, the proximity to key urban centres accelerates speed to market, helping our tenant customers stay ahead, while also delivering strong returns for investors.”

Prioritising sustainability, Ascent on Bourke is targeting a 5-Star Green Star Design and As-Built rating, and includes an over 300kW solar system, EV charging stations, smart irrigation systems utilising rainwater, LED lighting, and low VOC finishes. These environmentally responsible features reflect Charter Hall’s focus on energy-efficient developments and align with its tenant customers’ own sustainability goals.

Schindler Managing Director Australia, Stefano Montresor, said, “At Schindler, together with safety, fulfilling our customers' needs with efficiency is paramount. Ascent on Bourke represents a state-of-the-art facility that not only enhances our logistic capabilities but also supports our commitment to innovation. Aligning perfectly with our operational requirements, it is an ideal environment to continue delivering exceptional service to our clients, while also positioning us for future growth.”

Fund Manager, Simon Greig, said, “Ascent on Bourke is a prime example of how multi-storey warehousing can meet the needs of today’s dynamic logistics and supply chain operations. The development is in line with our Fund strategy, improving portfolio quality for our two Australian superannuation fund investors and delivering high-quality industrial and logistics facilities that support our customers’ growth.”