Australia will have to ramp up its construction of cold storage sheds to service the food supply needs of our booming population, says CBRE.
The ability of supermarkets, pharmacies and groups such as HelloFresh to supply products to meet the needs of Australia’s booming population in coming years will require a significant investment in new refrigerated warehouses, a report from CBRE has warned.are specialist temperature-controlled facilities used to house fresh foods, frozen products and pharmaceuticals.
While Australia’s cold storage capacity has been rising over the past decade – from 0.28 cubic metres per person in 2016 to 0.4 cubic metres now – there is almost zero vacancy in these facilities, due to population growth , the rise of online food and liquor shopping and Australia’s expanding food export market.“We are seeing an influx of cool-room and freezer operators look for space across western Sydney.
Just over 200,000 square metres of new cold storage facilities are due to be built over the next two years , Americold and Europe-based NewCold, which is building a new facility at Marsden Park in Sydney’s west.Nationally, Australia’s cold storage sector has grown to 10.2 million cubic square metres from 8.4 million cubic square metres four years ago, according to CBRE.
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