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In this TUD+ Briefing, ESR Australia chief executive Phil Pearce discusses its deal to acquire a 1.5ha business park in the tightly held Macquarie Park precinct in Sydney’s north from AMP Capital.
The property, purchased for $71 million by ESR Australia, a subsidiary of Asia Pacific logistics giant ESR Group, features an existing 7000sq m office and warehouse asset, and offers ESR a staged redevelopment opportunity during the coming years.
The purchase will also prove beneficial to ESR, which is currently looking to expand beyond industrial property into suburban offices, data centres and business parks.
This TUD+ Briefing covers:
—AMP Capital’s decision to sell and ESR Australia’s position to buy
—an overview of the site and its existing tenant and income profile
—ESR’s valuation methodology that was applied to the deal
—the redevelopment options for the site and the likely staging/roll-out of these plans
—the assets position in ESR’s broader strategy.
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