ESR Australia expands Gilmore Industrial Estate with acquisition of adjacent parcel

ESR Australia is pleased to announce the acquisition by ESR Australia Logistics Partnership (EALP) of 7ha parcel adjoining its ESR Gilmore Industrial Estate in Berrinba to increase their development pipeline.

ESR saw the opportunity to invest further in the QLD market and capitalise on the strong market, acquiring the 7ha site for $17.65m, almost doubling its holdings on the site and taking the total land size to 12ha.

Craig Robertson, General Manager – Queensland for ESR Australia, said, “The sustained growth of e-commerce continues to drive demand for warehouse and fulfilment services; through continued strategic acquisitions, ESR is well placed to expand and enhance its capabilities to meet this growing demand.”

“The acquisition of the parcel adjoining our existing Gilmore Industrial Estate provides ESR Australia with the capacity to deliver up to 65,000sqm of developed finished warehouse product.

“ESR Gilmore Industrial Estate benefits directly from the Transurban Queensland’s Logan Enhancement Project, providing ESR Australia with a strong opportunity to the expansion of premium logistics assets in Queensland and cater to future growth,” Mr Robertson said.

Berrinba is one of Brisbane’s most sought after logistics and warehousing locations in Brisbane due to its direct access to wider industrial markets and connectivity to major transport networks. With substantial amenity and flexible tenancies from 5,000sqm to 25,000sqm, the ESR Gilmore Industrial Estate is a prime development.

Nick Evans, Associate Director Industrial Colliers, said, “The Covid-19 pandemic has re-enforced the important role industrial warehousing, and logistics facilities play in the broader consumer market.

“Continued shutdowns of retail and restaurant and hospitality venues along with borders have placed increased pressure on supply chains, and e-commerce spend bolstering warehousing requirements nationally,” said Mr Evans.

David Brisk, Associate Director Industrial Colliers, said, “Brisbane is facing a distinct shortage of zoned industrial land which reinforced the importance of this acquisition for ESR.”

“Berrinba in particular is a highly sought after logistics and warehousing location which offers occupiers in constrained markets the opportunity to grow their warehousing footprint whilst remaining in an accessible location, which is currently home to DHL, Ceva Logistics, Mitre 10 (Metcash), QLS Logistics, Rinnai and McPhee Transport.

The estate has excellent connectivity to Brisbane’s major transport networks, including the Logan, Gateway, Ipswich and Pacific Motorways, providing direct access to the wider Brisbane industrial markets, the Airport, Port, Gold Coast and growing western corridor. Flexible tenancies are available within ESR Gilmore Industrial Estate from 5,000sqm to 48,000sqm.

Following the acquisition of Acacia Ridge, ESR Australia is committed to growing its presence in Queensland to meet the growing demand for quality and innovative assets within the local industrial market.

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About Warwick Petschack

Warwick has over 25 years of property investment and management experience. Principally responsible as Managing Director for Capital Management Australia and Joint Managing Director for Chauvel Capital Partners and Editor of Australian Property Markets News.

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