* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 11, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Technology And Construction Names Join Top Stock Lists: Check Out Additions To IBD 50, Big Cap 20 And More – Investor’s Business Daily

    Technology and Construction Leaders Surge Into Top Stock Rankings: See the Latest Additions to IBD 50, Big Cap 20, and More

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Technology And Construction Names Join Top Stock Lists: Check Out Additions To IBD 50, Big Cap 20 And More – Investor’s Business Daily

    Technology and Construction Leaders Surge Into Top Stock Rankings: See the Latest Additions to IBD 50, Big Cap 20, and More

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

ESR-GIC JV Buys Sydney Industrial Plant to Develop $301M Logistics Project

June 22, 2023
in Technology
ESR-GIC JV Buys Sydney Industrial Plant to Develop $301M Logistics Project
Share on FacebookShare on Twitter

Allnex Botany Australia

Allnex will be shutting down its Botany paint shop by 2028. (Source: Google)

ESR has acquired a manufacturing plant in Sydney’s Botany Bay area on behalf of a joint venture with Singapore’s GIC, with the partners planning to invest at least A$443 million ($301 million) to develop a multi-storey logistics facility on the site, according to a statement by the company this week.

The APAC shed specialist together with the Singaporean sovereign fund paid A$143 million to pick up the Allnex coatings factory in Banksmeadow from the German manufacturer, providing their ESR Australia Partnership (EADP) II vehicle with a 48,000 square metre (516,670 square foot) site, with the deal allowing for the facility to be leased back to the seller for the next five years.

“ESR Australia is pleased to secure an infill site of this scale in the highly sought after Botany Bay Precinct. The strong demand for space within the precinct and site’s planning overlay will enable us to explore multi-level warehousing on the site,” said ESR Australia chief executive Phil Pearce.

Once Allnex has moved on, ESR and GIC plan to invest a further A$300 million to redevelop the asset into a two-storey logistics facility, with the deal boosting the value of the company’s Australian development pipeline to A$7.9 billion.

Staying Close to Port

Speaking with Mingtiandi on Thursday, Pearce said the partnership had recently closed on its acquisition of the property at a yield of 5 percent, with plans to develop a 58,000 square metre warehouse on the Allnex site.

Phile Pearce ESR

Phil Pearce of ESR Australia

Pearce said the site at 49 Stephen Road in Banksmeadow offers good connectivity for logistics companies with Port Botany, the second biggest container port in the country, located within 10 minutes’ drive away, while Sydney Airport is around 10 kilometres (6.2 miles) to the east.

Allnex decided to sell the 60-year old facility, which it currently uses as a manufacturing plant and regional head office, following a strategic review of its regional operations.

Earlier this week, the Frankfurt-based resins maker announced that it is shutting down its production site in Penrose, New Zealand in the fourth quarter of 2024, as well as its operations in Botany once the lease expires in 2028. Back home, the firm is also ceasing its operations in Hamburg, Germany, around June of next year.

“Allnex recognises the shifts within the Australian surface coatings market, both geographically and technologically, and is proactively taking measures to ensure the continuity of our operations,” Zel Medak, the firm’s vice president for commercial Southeast Asia, Australia and New Zealand, said on Wednesday. “We are pleased to reach an agreement with ESR to ensure minimal disruption and to continue to provide our customers with high-quality and innovative products.”

Ramping Up Down Under

ESR said the Botany Bay site is one of the few large industrial plots still available in southern Sydney, which is growing in importance as a logistics hub.

“South Sydney is becoming more and more built out, and the residential (area) down there is a key location for logistics companies so that’s quite an opportunity there,” Pearce said.

Hitting a A$540 million first closing for its EADP II venture last October gave the warehousing giant firepower for its latest acquisition. The fund was a follow up to the A$1 billion EADP I it launched with GIC in 2020, with both partnerships focused on developing premium, sustainable industrial estates across Sydney, Melbourne and Brisbane.

The Botany Bay buy comes just six weeks after ESR announced a A$420 million joint venture with local logistics provider Toll Group to build a new distribution centre at the Westlink Industry Park near Sydney under a separate tie-up with GIC.

In that venture under its ESR Australia Logistics Partnership II core-plus strategy with GIC, ESR is building a 68,000 square metre distribution centre that will be leased to Melbourne-based Toll for 10 years following its completion in 2024.

ESR is expanding its Sydney pipeline as average rents for top grade industrial assets around the city continued to climb in the first quarter after vacancy rates plummeted to a record low of 0.2 percent in the second half of last year, according to CBRE.

Super-prime sheds saw average rents surge by 5.9 percent in the first quarter from the three months prior, and a sharper 37.2 percent jump year on year, according to the agency.

In South Sydney, rates for high-end properties rose 2.4 percent in the first quarter from the previous three months, with average net face rents settling at A$315 per square metre – the highest in the city.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/logistics/esr-buys-sydney-industrial-plant-to-develop-301m-logistics-project/

Tags: ESR-GICSydneytechnology
Previous Post

Hong Kong Builders Cut Home Prices to 2018 Levels and More Asia Real Estate Headlines

Next Post

Kerry Acquires Henan Road Plot for $1.2B to Assemble Central Shanghai Mega-Site

International call for freedom for environmentalist Onur Yılmaz – ANF English

International call for freedom for environmentalist Onur Yılmaz – ANF English

July 11, 2025
This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

July 11, 2025
Science Museum of Minnesota cutting more than 40 full-time employees – CBS News

Science Museum of Minnesota to Cut More Than 40 Full-Time Jobs

July 11, 2025
Doctors say we’ve been misled about weight and health – ScienceDaily

Doctors Reveal the Truth About Weight and Health That You’ve Been Misled About

July 11, 2025
Sierra Club breaks record for world’s largest display of origami fish to protest Line 5 – News From The States

Sierra Club Creates Giant Origami Fish to Break World Record and Protest Line 5

July 11, 2025
Senate Democrat: Trump economy full of ‘uncertainty,’ ‘chaos’ – The Hill

Senate Democrat Warns of ‘Uncertainty’ and ‘Chaos’ in Trump Economy

July 11, 2025
Arts and entertainment events happening July 10th-13th across the Mid-Ohio Valley – WTAP

Unmissable Arts and Entertainment Events Happening July 10th-13th in the Mid-Ohio Valley

July 11, 2025
World’s Premier Cancer Institute Faces Crippling Cuts and Chaos – KFF Health News

World’s Leading Cancer Institute Grapples with Devastating Cuts and Turmoil

July 11, 2025
South Korea’s Yoon detained for a second time over martial law – Al Jazeera

South Korea’s Yoon detained for a second time over martial law – Al Jazeera

July 11, 2025
2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

July 10, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (715)
  • Economy (738)
  • Entertainment (21,626)
  • General (15,825)
  • Health (9,775)
  • Lifestyle (745)
  • News (22,149)
  • People (740)
  • Politics (748)
  • Science (15,956)
  • Sports (21,236)
  • Technology (15,723)
  • World (721)

Recent News

International call for freedom for environmentalist Onur Yılmaz – ANF English

International call for freedom for environmentalist Onur Yılmaz – ANF English

July 11, 2025
This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

July 11, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version