29/03/2016 - 09:41

BP signs on for Sirona estate

29/03/2016 - 09:41

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BP signs on for Sirona estate
The 150 hectare estate was recently rezoned from rural to industrial.

International petroleum giant BP has become the first investor in Sirona Capital’s Northern Gateway industrial estate in Muchea, signing a $15 million deal to take up 2.5 hectares in the development.

Sirona Capital is developing 150ha of land at Muchea, located about 43 kilometres from Perth along the Great Northern Highway.

The plan has attracted the backing of global investment giant Goldman Sachs, which is pitching in $45 million through its subsidiary, Austreo Property Ventures.

BP will build a service centre and truck stop on its parcel of land, adding to its network of more than 280 sites across Australia.

The facility will include a heavy vehicle canopy for refuelling large, long-haul trucks, a convenience store, restaurant, showers and laundry facilities.

Sirona Capital managing director Kelvin Flynn said the private equity group was delighted to have signed BP as its first investor.

“Our development strategy for Muchea will help to reduce direct input costs for the agricultural and resources sectors, particularly with the proposed development of a road train assembly nearby,” he said.

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