ESR are reported to be under taking due diligence on a 78.8ha parcel of land in Cranbourne West in a deal rumored to be worth more than $75 million.
The site at 590 and 620 Western Port Highway, Cranbourne West, has offered for sale through Camerons and described as "quite possibly the most strategic industrial land acquisition in Melbourne’s booming south east corridor for the foreseeable future”.
The site is zoned Urban Growth 1 and has an 850m frontage to Western Port Highway and further connectivity through (in most cases) sold out adjoining estates.
The property is being sold by the renowned Kelly farming family who have held the property for decades.
Promoted as Tullamore Business Park, the brokers said the property could be master-planned as an industrial hub to rival Dandenong South – which is about four kilometres away to the north.
ESR have not made any formal comments about the potential purchase but have been very active in recent months. Last week, the group launches a A$1 billion ESR Australia Development Partnership with backing of GIC.
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