AUSTRALIAN Pharmaceutical Industries, the parent company of Priceline, Soul Pattinson and Pharmacist Advice, is to set up a new a new distribution centre in Marsden Park, Sydney.
The 32,506sqm facility is to be developed by Sydney Business Park, with an estimated capital investment value of $75m.
“The new distribution centre will provide significantly greater operational benefits through a leading-edge automation system and smart warehouse design that maximises floorspace and promotes safety and sustainability,” said API supply chain general manager Jim Redfern.
“We are looking forward to moving into this new facility and bolstering our supply chain to continue growing our 110-year-old business.”
The deal was negotiated by Jack Moroney, director at TM Insight and Matt Foldes, Sydney Business Park sales and leasing director.
“A significant transformation project of this nature will enable API to optimise their core business performance in both the short and long term,” Mr Moroney said.
“We ran a highly competitive property procurement process to ensure API’s bespoke operating needs were accommodated.”
Sydney Busines Park development director Owen Walsh said with more than $1bn of investment committed, it was “pleasing to see Marsden Park growing into one of Sydney’s largest employment centres, and that we are on track to deliver 23,500 jobs for Western Sydney”. The site is expected to be operational in the second half of 2022.