{"id":359576,"date":"2023-09-25T19:40:03","date_gmt":"2023-09-25T11:40:03","guid":{"rendered":"https:\/\/www.mingtiandi.com\/?p=359576"},"modified":"2023-09-25T19:32:23","modified_gmt":"2023-09-25T11:32:23","slug":"esr-adds-logistics-site-near-western-sydney-airport-project-for-45m","status":"publish","type":"post","link":"https:\/\/www.mingtiandi.com\/real-estate\/logistics\/esr-adds-logistics-site-near-western-sydney-airport-project-for-45m\/","title":{"rendered":"ESR Adds Logistics Site Near Western Sydney Airport Project for $45M"},"content":{"rendered":"<div id=\"attachment_359577\" style=\"width: 790px\" class=\"wp-caption alignnone\"><img decoding=\"async\" aria-describedby=\"caption-attachment-359577\" class=\"size-full wp-image-359577\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/09\/Martin-Road-Badgerys-Creek.jpg\" alt=\"Martin Road Badgerys Creek\" width=\"780\" height=\"386\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/09\/Martin-Road-Badgerys-Creek.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/09\/Martin-Road-Badgerys-Creek-400x198.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/09\/Martin-Road-Badgerys-Creek-640x317.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" \/><p id=\"caption-attachment-359577\" class=\"wp-caption-text\">Martin Road in Badgerys Creek shouts of development potential (Image: Google)<\/p><\/div>\n<p>Industrial specialist ESR is adding to its Australian pipeline with the acquisition of a site near the future Western Sydney airport for A$70 million ($45 million).<\/p>\n<p>With 4.1 million square metres (44 million square feet) of warehouse space already developed in the country, ESR aims to build around 82,000 square metres of new logistics capacity on the plot on Martins Road in the Badgerys Creek area, according to a statement by the company, with an eye to the airport\u2019s planned opening in 2026.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/ad.doubleclick.net\/ddm\/trackclk\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;ltd=;dc_tdv=1\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Copy of APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real Estate\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><script language='JavaScript1.1' src=\"https:\/\/ad.doubleclick.net\/ddm\/trackimpj\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;ord=+ Date.now();dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;gdpr=${GDPR};gdpr_consent=${GDPR_CONSENT_755};ltd=;dc_tdv=1?\" attributionsrc ><\/script><\/p>\n<p>\u201cFuture customers at ESR\u2019s Martin Road site will have the ability to be operational as soon as Western Sydney Airport comes online,\u201d said Phil Pearce, chief executive of ESR Australia. \u201cThey will also have the benefit of leading-edge renewable energy infrastructure, which is an increasing concern for our customers with the rise of automation and electrified fleets.\u201d<\/p>\n<p>Including the cost of the site acquisition, ESR plans to invest around A$270 million in the project, as it converts the current 17 hectare (42 acre) farm into a set of four warehouses.<\/p>\n<h3 class=\"western\">Western Airport Competition<\/h3>\n<p>The site is located around three kilometres (1.86 miles) from <a href=\"https:\/\/www.westernsydneyairport.gov.au\/\">the future Western Sydney International Airport<\/a>, which is being built to handle 10 million passengers and 220,000 tonnes of cargo annually. ESR noted the plot\u2019s frontage along Martin Road, which is the main ground transport artery in the area.<\/p>\n<div id=\"attachment_341375\" style=\"width: 610px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-341375\" class=\"size-full wp-image-341375\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/01\/Phil-Pearce-of-ESR.jpeg\" alt=\"Phil Pearce of ESR\" width=\"600\" height=\"340\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/01\/Phil-Pearce-of-ESR.jpeg 600w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/01\/Phil-Pearce-of-ESR-400x227.jpeg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/01\/Phil-Pearce-of-ESR-348x196.jpeg 348w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><p id=\"caption-attachment-341375\" class=\"wp-caption-text\">Phil Pearce of ESR<\/p><\/div>\n<p>The acquisition in the Liverpool City Council area is ESR\u2019s first in the area surrounding the airport, which is being developed as the Western Sydney Aerotropolis. The Hong Kong-listed company is developing the project under its ESR Australia Development Partnership II (EADP II), which is backed by Singaporean sovereign fund GIC.<\/p>\n<p>At the stated values, ESR paid the equivalent of A$4.1 million per hectare for the site, and will be spending around A$3,292 per square metre to develop the project.<\/p>\n<p>\u201cESR Australia is pleased to secure the scalable Martins Road site and will exercise its robust development capability to ensure the delivery of premium facilities in line with the anticipated opening of Western Sydney Airport in 2026,\u201d Pearce added.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/oxford-ivanhoe-kic-savills-on-singapore-india-markets\/\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"14 NOVEMBER 2023 conrad centennial Singapore\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>The seller was an unnamed Vietnamese private family office represented by Colliers\u2019 head of Asia markets for Australia, Harry Bui.<\/p>\n<p>The Western Sydney Aerotropolis has been a top target for logistics investors in recent years with DHL having acquired a 24 hectare site in the area for A$140 million in March of last year. Frasers Property, Goodman and local player Stockland have also snatched up properties in the district, according to local media reports.<\/p>\n<h3 class=\"western\">GIC Partnership Expands<\/h3>\n<p>ESR will be adding the western Sydney site to a development fund which reached a first closing of A$540 million <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/logistics\/esr-hits-first-closing-of-aussie-eadp-fund-with-gic\/\">in October of last year<\/a>, with GIC contributing A$490 million as the cornerstone investor in EADP II.<\/p>\n<p>In June of this year ESR said that it had <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/logistics\/esr-buys-sydney-industrial-plant-to-develop-301m-logistics-project\/\">acquired a manufacturing facility in Sydney\u2019s Botany Bay area<\/a> for A$143 million on behalf of the same vehicle.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mipim-asia.com\/?utm_source=mingtiandi&#038;utm_medium=barter_website&#038;utm_campaign=mipimasia2023\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"AR-607487_Mipim Asia_23_Banner Resize 780&#215;250\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>The fund targets A$1 billion in total equity and is a follow-on to ESR\u2019s 2020-vintage ESR Australia Development Partnership which raised the same amount of cash.<\/p>\n<p>GIC committed A$400 million to EADP I with other sovereign investors, life insurers and ESR\u2019s Pan Asia Fund also contributing capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Industrial specialist ESR is adding to its Australian pipeline with the acquisition of a site near the future Western Sydney airport for A$70 million ($45 million).<\/p>\n<p>With 4.1 million square metres (44 million square feet) of warehouse space already developed&#8230;&nbsp;<a href=\"https:\/\/www.mingtiandi.com\/real-estate\/logistics\/esr-adds-logistics-site-near-western-sydney-airport-project-for-45m\/\">Read&nbsp;More>><\/a><\/p>\n","protected":false},"author":178,"featured_media":341375,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[5385],"tags":[1066,5382,5167,2920,2200,5391],"ppma_author":[8841],"authors":[{"term_id":8841,"user_id":178,"is_guest":0,"slug":"michael-cole","display_name":"Michael Cole","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/3ade7d9efc9643ef5127fe8275be2eb2?s=96&d=mm&r=g","user_url":"","last_name":"Cole","first_name":"Michael","description":""}],"_links":{"self":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/359576"}],"collection":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/users\/178"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/comments?post=359576"}],"version-history":[{"count":0,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/359576\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media\/341375"}],"wp:attachment":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media?parent=359576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/categories?post=359576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/tags?post=359576"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/ppma_author?post=359576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}