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Landlords are counting the cost of the damage to their properties across the city, which will reach the millions, following the hail storm that ripped through Sydney on Saturday.
Goodman Group's Bungarribee Industrial Estate at Huntingwood in Sydney's west was the hardest hit with its roof collapsing.
A spokesman for Goodman confirmed that two of its facilities had been damaged, but all staff were unharmed.
"It seemed to hit that corridor with intensity, but we cannot comment as we are currently assessing the full impact," the spokesman said.
"There isn't the same level of damage that Sydney saw in 1999, but we won't know anything more until we can get into the property, and talk to our customers about any relocations plans."
It was understood that no major damage was reported for properties owned by DEXUS or Stockland, but some smaller warehouses around South Sydney and the western areas will be mopping up when they return to work on Monday.
Property agents said the storm was not as devastating as the April 1999 one, but it will still lead to tenants looking to relocate as they assess the damage.
Michael Fenton, NSW managing director and Australian head of industrial at JLL, said unexpected events such as this highlight the importance of owners having a large and diverse property portfolio.
"'The ability to provide flexibility for tenants, such as short-term accommodation, while buildings are repaired and rebuilt, is vital for business continuity," Mr Fenton said.
In 1999 the Insurance Council of Australia estimated damage to retail and industrial sites reached $387.5 million, and on top of the damage, business interruption was estimated at $25 million.
The day after that storm wreaked havoc, businesses were forced to find short-term accommodation while their factories and offices were repaired.
That led to a sharp jump in rents as supply was overshadowed by demand.
Industrial leasing agents say for short-term leases the rents rose an average 20 per cent. They are nowadays about $250 to $300 per square metre per annum in South Sydney and marginally lower in some of the western districts.
According to agents at Savills, Sydney's western industrial precinct has experienced a flurry of development in the last 12 months, which has been predominantly driven by precommitment activity. This is expected to continue with about 300,000 square metres of industrial space in the pipeline due to complete by the end of 2015 on sites owned by Goodman Group, Australand, DEXUS, GPT, Fitzpatrick Investments and Fife Capital.
