ESR Australia and Frasers Property Industrial jointly acquire 64-ha land parcel from Salta Properties to create c. $900 million industrial estate.

14 March 2024: ESR Australia and Frasers Property Industrial jointly acquire 64-ha land parcel from Salta Properties to create c. $900 million industrial estate in Melbourne’s south-east.

ESR Australia and Frasers Property Industrial have partnered in a 50:50 joint venture (JV) to acquire a 64.4ha parcel of land from Salta Properties in Melbourne’s south east which will be developed into a premium industrial estate with a total end value of c. $900m.

Located at 635 Hall Road, Cranbourne, the JV will develop the industrial facilities on the majority of the estate, with part of the land earmarked for small lot sub-divisions for sale. Works on-site are anticipated to start in late 2024, with the first buildings to be completed in 2026.

Media Release