ESR picks up Villawood industrial site

MaxCap and Time & Place recently paid Orica c$70 million for a 12.6 hectare Villawood block (outlined).

ESR is paying $58.1 million for an industrial investment with medium-term development upside, in Villawood.

The 7.45 hectare property, 9 Birmingham Avenue, contains warehouses leased to PPG Architectural Coatings for two more years.

About 6.3ha is developable.

It is near the 12.6ha ex-Orica munitions factory, which MaxCap and Time & Place acquired for over $70m in May.

That parcel, 2 Christina Road, is earmarked for a c$150m logistics estate.

CBRE’s Jason Edge and Michael O’Neill marketed 9 Birmingham Ave; the sale price reflects a 3.82 per cent yield (story continues below).

Villawood is about 22 kilometres west of Sydney.

In the neighbouring suburb of Fairfield East, in February, ESR sold a renovated office/warehouse on 2.71ha for $32m to a private investor.

More to come.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of