ESR buys Sydney logistics site for $142m

ESR has announced its continued push into the Australian industrial and logistics real estate space with the purchase of a prime 20.8 ha development site for $142.5 million at 327-335 Burley Road, Horsley Park (ESR Horsley Logistics Park).

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, the company says.

When fully developed, ESR Horsley Logistics Park will be a premium distribution park of circa 110,000 sqm of GFA across 4-6 separate warehouses.

ESR Horsley Logistics Park will enable customers to benefit from significant infrastructure investment by the government in Western Sydney, including WestConnex, Sydney Metro, Moorebank Intermodal, and the Western Sydney Airport.

Phil Pearce, CEO of ESR Australia, commented: “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 well-positioned to deliver on our strategic priority of developing premium logistics properties in high-demand low-supply locations for our customers.

“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.”

©2019 All Rights Reserved. MHD Magazine is a registered trademark of Prime Creative Media.