INVESTEC SECURES BRISBANE WAREHOUSE

Written on the 20 August 2015

INVESTEC SECURES BRISBANE WAREHOUSE

INVESTEC Australia Property Fund (IAPF) has bolstered its industrial portfolio, after acquiring a warehouse on the outer fringe of Brisbane for $18.15 million.

Located in Larapinta, the debt-funded acquisition propels the fund's total value to $379.45 million and gearing to 33 per cent.

The property is 100 per cent leased through until December 2021 to Coil Steels Pty Ltd, which forms part of the Kanji Group. The family-run building materials business owns several successful subsidiaries across Australia.

IAPF CEO Graeme Katz says the investment demonstrates the fund's commitment to building a diverse portfolio of assets.

"The acquisition is the eighth property acquired by the fund since our rights issue late last year, reflecting management's ability to unlock off-market transactions in a very competitive market," Katz says.

"We believe the addition of the Larapinta property to the fund's portfolio aligns well with our strategy of investing in well-located assets underpinned by long-term leases."

The suburb is considered to be a premier southern industrial precinct of Brisbane, with other tenants including Woolworths, Toll, BP and Toyota.

The site spans 21,930sqm with warehouse space and associated office.

 


Latest News

CROWN EMPLOYEES CONVICTED, JASON O'CONNOR TO SPEND 10 MONTHS IN JAIL

CROWN Resorts (ASX: CWN) employees who were arrested in October last year on suspicion of gambling offences have b...

QUICK TURNAROUND FOR $20 MILLION OFFICE IN MELBOURNE OUTER-EAST

AN office building in Melbourne's outer eastern suburb of Mount Waverley has sold for $20.5 million just two year...

METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

FOOD and grocery giant Metcash has announced its full year net profit has fallen more than 20 per cent and its CEO Ia...

SHARE PRICE PLUNGE FOR RETIREMENT VILLAGE OPERATOR AHEAD OF FOUR CORNERS INVESTIGATION

A RETIREMENT village operator which has been accused of charging excessive fees through complex contracts has respond...

Related News

METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

FOOD and grocery giant Metcash has announced its full year net profit has fallen more than 20 per cent and its CEO Ia...

SHARE PRICE PLUNGE FOR RETIREMENT VILLAGE OPERATOR AHEAD OF FOUR CORNERS INVESTIGATION

A RETIREMENT village operator which has been accused of charging excessive fees through complex contracts has respond...

CHINESE TECH FIRM LOOKS TO AUSTRALIA FOR 'CUTTING EDGE' IDEAS

CHINESE ed-tech company Retech Technologies (ASX: RTE) has listed on the ASX after raising $17.9 million from its IPO...

COLLINS FOODS GOBBLES UP MORE AUSSIE KFC STORES

COLLINS Foods Limited (ASX: CKF) has purchased 28 KFC restaurants from Yum! Brands Inc for $110.2 million, adding fur...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter