Frasers Property, ESR acquire Melbourne business park site

Frasers Property, ESR acquire Melbourne business park site

254 Wellington Road, Mulgrave, Australia (Source: Frasers Property Australia)

Frasers Property Australia (Frasers Property) and ESR Australia (ESR) have jointly acquired a 4.67-hectare business park development site in Melbourne suburb Mulgrave area, valued at A$400 million ($276.28 million), when completed.

The joint development is a 50:50 split between Frasers Property and ESR. Frasers Property secured the site while ESR will undertake the development. The entire development is forecast for completion by late 2025.

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