Asset class / industrial & warehouse
Industrial assets along the Blacktown, Eastern Creek and Penrith corridors run on long terms, net outgoings and make good obligations that compound over years. We manage every clause as it falls due, from a Norwest base inside the freight catchment.
01 / Map The industrial markets we manage
The western industrial markets are not one place. Each estate has a different stock profile and a different reason a tenant signs. We manage to the market, not to a template.
The deep older industrial belt: trade units, multi-unit estates and standalone warehouses. Stock here is mixed in age and condition, so make good scope and slab condition are where owner money is won or lost.
Prime logistics on the M7. High-clearance distribution boxes with hardstand and dock equipment, chosen by tenants on drive time to the motorway. Long net leases, large outgoings to reconcile.
New generation logistics estates built for national distribution tenants. Newer fit outs mean racking and mezzanine reinstatement dominate the make good, and the condition record from day one decides the claim.
One of the largest established industrial precincts in the basin. Manufacturing, warehousing and multi-unit estates with deep tenant demand. Outgoings reconciliation and rent reviews carry the return on this stock.
A newer growth front of recently completed estates and bulky goods. First leases set the structure for the term, so review methods, outgoings clauses and make good get drafted right before they are lived with for years.
The outer-west industrial and logistics market at the foot of the Blue Mountains on the M4. The new airport is pulling freight demand this way, which makes how a lease is structured and reviewed matter more, not less.
The new airport and Aerotropolis at Badgerys Creek sit at the western end of the spine, pulling logistics and distribution demand along the M4 toward Erskine Park, Eastern Creek and Penrith. For a landlord on or near that route, tenant interest, rent reviews and lease structure all matter more as the market reprices. We manage across every one of these markets from a Norwest base inside the catchment.
A warehouse on the M7 is a ten-year document. It rewards the manager who reads it.Blox Commercial / commercial management only
02 / Mechanics What the lease turns on
Across every market on the corridor, the money is won or lost on the same four parts of the lease.
On a net lease the tenant pays council and water rates, land tax, insurance and statutory charges. Leakage happens when outgoings are not reconciled against actual invoices each financial year, when land tax is apportioned on the wrong basis, or when a charge is paid from the owner account and never recovered. Reconciled properly, the owner subsidises nothing.
Owner subsidises nothingRacking, mezzanines, slab, line marking, roller doors and dock equipment are the heart of an industrial make good. Logged at handover with a dated condition record, reinstatement is enforceable. Discovered only at lease end, it becomes a dispute about who damaged what, usually settled at a discount the owner wears.
Enforceable, not disputedLong industrial terms specify the review method per year: fixed, CPI or market. Fixed and CPI reviews are calculated and invoiced on the review date; market reviews run a valuation with notice periods. A missed fixed or CPI increase is lost income that cannot be recovered later, so every review date is calendared months ahead.
Lost income is permanentA bank guarantee is the landlord security against default and failed make good. The common failure is expiry: many guarantees carry an expiry date earlier than the lease term, and once expired the security is worthless. We monitor renewal dates and require a replacement before the guarantee lapses, so it is live at the moment it matters.
Security live when needed
Norwest base
Inside the catchment, so an inspection or a make good walk-through is a drive, not a flight.
03 / Coverage How we run it
We manage the industrial corridors from a Norwest office that sits inside the freight catchment. The estates on the M7 and M4 are a short drive, so condition inspections, make good walk-throughs and tenant meetings happen in person, on the asset, not over a phone queue.
The person who reads your lease is the person who inspects the asset and runs the reviews. Not a call centre and not a handoff.
Blacktown multi-unit, Eastern Creek logistics and Marsden Park new build behave differently. We manage each to its market.
Rent reviews, outgoings reconciliations, guarantee expiries and make good notices are calendared before they fall due.
04 / Pricing What it costs
Industrial management should cost what it costs. We charge a 5% management fee. On a net lease that fee is recoverable as an outgoing, so the tenant carries it.
See the full breakdown on our commercial property management fees page, read the main industrial property management page, or talk to us about commercial leasing for a vacancy.
Get a proposal05 / Answers What landlords ask
We manage industrial and warehouse assets across the established and emerging industrial markets of the western corridors: Blacktown and Seven Hills, Eastern Creek and Erskine Park on the M7, Wetherill Park and Smithfield, Penrith on the M4, and the newer Marsden Park estates. Each market has a different stock profile, from older multi-unit estates to new logistics boxes, and we manage to the lease rather than to a template.
On a net lease the tenant pays the outgoings: council and water rates, land tax, insurance, and statutory charges. Leakage happens when outgoings are not reconciled against actual invoices each financial year, when land tax is apportioned on the wrong basis, when a charge is paid from the owner account and never recovered, or when the budget estimate is never trued up. Reconciled properly, the owner subsidises nothing.
Make good is the tenant obligation to return the premises to an agreed condition at lease end. On industrial assets this commonly includes removing racking, mezzanines and tenant fit out, repairing the slab and line marking, reinstating roller doors and dock equipment, and resealing or repainting. The enforceable version is logged at handover with a dated condition record. Discovered only at lease end, make good becomes a dispute about who damaged what.
Industrial leases run for long terms and usually specify the review method per year: fixed percentage, CPI, or market. Fixed and CPI reviews are calculated and invoiced on the review date. Market reviews require a valuation process with notice periods and a dispute path. A missed fixed or CPI increase is lost income that cannot be recovered later, so every review date is calendared months ahead.
The M7 and M4 are the freight backbone of the western corridors. Distribution tenants choose sites by drive time to the motorway, so a well-located asset on or near the spine holds tenant demand and rent. The new airport and Aerotropolis at Badgerys Creek are pulling logistics demand further out along the M4. For a landlord that movement makes how a lease is structured and reviewed matter more, not less.
Blox charges a 5% management fee. On a net lease the management fee is recoverable as an outgoing, so the tenant pays it. There are no contractor markups, no disbursement margins and no hidden charges buried in monthly statements. We manage across the corridors from a Norwest base.
06 / Adjacent Where to go next
07 / Talk Let's discuss your asset
One conversation is usually all it takes to understand the opportunity in your lease, your outgoings and your make good across an industrial holding anywhere on the corridor.
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