ESR sells TradeCoast warehouse
ESR – set to be privatised Friday – has nearly doubled its outlay selling a Pinkenba warehouse investment after eight years.
The 2.58 hectare holding, 175 Eagle Farm Road, is selling to a government owner occupier for $48.5 million.
It paid $25.5m.
With 11,152 sqm in two buildings – one vacant and the other subject to a lease expiring in March – the site also fronts Tingara Street.
“Owner occupier activity in 2025 continues to be incredibly strong as businesses look to secure strategic sites ahead of the predicted infrastructure boom leading into the 2032 Brisbane Olympics,” CG Property marketing agents, Samantha Gould, Michael Callow and Mark Gilbride, said.
The deal comes three months since we reported the City of Brisbane renewed Cement Australia to a 9.2ha piece of Bulwer Island, in the suburb, for a significant 40 years.
The ESR privatisation prices the company at c$7.1 billion measured by equity value. Phil Pearce will continue to lead it.
Another ESR sale
Pinkenba is in Brisbane’s TradeCoast region, 18 kilometres north east of town.
The deal comes three months since we reported ESR sold JD.com the Wacol Logistics Hub, south west of town.
Not long earlier it divested a Canning Vale, Perth, warehouse investment, to Centuria.
Subscribe to our newsletter at the bottom of this page.
