ESR Cayman has acquired a strategically significant 79-hectare (194-acre) development site at 590 & 620 Western Port Highway in Cranbourne West, Victoria, Australia, by EADP. The site is located in the premier industrial precinct of South East Melbourne and represents one of the last large, contiguous land tracts in the area.
The site will be developed into a premium-grade logistics hub with an expected end value of approximately A$450 million ($315 million). The site is ideally situated to service the growing, affluent population of South East Melbourne, and to take advantage of the strong demand from users across the southeast portion of the country. Major retailers and online groups such as Aldi, Amazon, Bunnings, Grays Online and Woolworths have established distribution centers in the surrounding precinct.
With an 850-meter (2,788-foot) frontage on Western Port Highway and direct access to major roads, the estate will offer reduced logistics costs for customers
