ESR Australia acquires key South Sydney site for A$143 million

21 June 2023: ESR Australia acquires key South Sydney site for A$143 million

• ESR Australia has settled on one of the few remaining large-scale industrial landholdings in Botany Bay for ESR Australia Development Partnership ll (EADPll), acquiring a 4.8ha site at 49 Stephen Road, Banksmeadow, for A$143 million.

• ESR Australia will invest a further A$300million to develop a two-level facility with a Gross Floor Area (GFA) of c.58,000sqm.

• The site's vendor, Allnex, the global leader in industrial coating resins, has entered a five-year leaseback agreement with ESR Australia under the settlement terms.

• The highly connected premium Sydney location is experiencing incredibly high demand, with the vacancy rate currently sitting at 0.2%.

Media Release