ESR brings in new strategic investor for cold storage logistics facility in Hong Kong
ESR Group has entered into an agreement with a strategic investor from Mainland China to sell a 30 percent stake in its Kwai Chung Cold Storage Logistics Centre development in Hong Kong.
In 2022, ESR brought in Chinachem Group as an investor, which marked Chinachem Group’s first entry into logistics projects in Hong Kong.
With this transaction, ESR will reduce its stake in the facility to 40 percent while continuing to act as the investment, development and asset manager.
Expected to be completed in 2027, Kwai Chung Cold Storage Logistics Centre has a strategic location at the junction of Mei Ching Road and Container Port Road South, within Kwai Chung in the New Territories, easily accessible by established road networks to Hong Kong’s central business districts, international airport and border to Mainland China.
The facility is developed on a 55,245 square-meter (594,652-square-foot) site, with a new 50-year lease expiring in 2072. Maximizing the al