ESR buys development site in Australia, reaches A$1.8bn pipeline

ESR buys development site in Australia, reaches A$1.8bn pipeline

ESR, the Asia-Pacific logistics real estate platform with over US$20 billion in assets under management, has purchased a prime 20.8 ha development site for A$142.5 million at 327-335 Burley Road, Horsley Park in Western Sydney, Australia.

The site is within the highly sought-after Western Sydney industrial market. Given it’s strategically situated near major transport links including the M4 and M7 motorways and in close proximity to the future Western Sydney Airport, the site is ideally located for a logistics hub.

Since entering the Australian market, ESR has completed the integration of Propertylink Group and Commercial & Industrial Property Pty Ltd into ESR Australia. ESR Australia has exchanged contracts on a number of sites in major industrial precincts in Sydney, Melbourne and Brisbane.

The acquisitions total approximately 70 ha and will provide close to 330,000 sqm of logistics space, bringing ESR’s total development pipeline in Australia to circa A$1.8 billion.

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“Since establishing our business in Australia last year, we’ve been focused on building a strong foundation on which we can grow in this market. We’re pleased to already have achieved substantial growth. With the addition of these recent land acquisitions to our existing land bank, we are wellpositioned to deliver on our strategic priority of developing premium logistics properties in highdemand low-supply locations for our customers,” said Phil Pearce, CEO of ESR Australia .

“We will continue to add to our land bank to ensure ESR is well-positioned to keep capitalising on the opportunity that the Australian market offers with an established presence, substantial team of experts on the ground, and proven capabilities in Australia,” he added.