WACOL WAREHOUSE SCOOPED FOR $27M

Written on the 13 October 2015

WACOL WAREHOUSE SCOOPED FOR $27M

SINGAPOREAN investment firm Cache Logistics Trust has bolstered its presence in Brisbane, after acquiring a warehouse in Wacol for $27 million.

Sold on behalf of trustee One Funds Management Limited, the deal marks Cache Logistics Trust's fourth acquisition in Australia.

Cache CEO Daniel Cerf says the acquisition will provide income growth and diversification to investors.

"The proposed acquisition will boost Cache's Australian portfolio to four warehouses, and further expands our footprint in this market," Cerf says.

"The long weighted average lease expiry (WALE) of 7.9 years by lettable area will also lengthen Cache's portfolio WALE to 4.6 years and strengthen its ability to deliver regular and stable distributions to unitholders."

The modern single-storey warehouse features two levels of ancillary office, and is located within 20km of the CBD.

CBRE's Ed Bull negotiated the sale on behalf of a private investor and says it's a significant transaction for the Brisbane industrial investment market.

"The process was run formally off-market and received five offers at the close of the campaign," he says.

"The buyer was impressed by the improvements and the quality of the covenant."

The property will be leased to Penske Automotive Group subsidiary Western Star Trucks Australia with an annual rental escalation of 4 per cent per annum until August 2023.


Latest News

SKYCITY INJECTS $330 MILLION INTO FESTIVAL PLAZA REDEVELOPMENT

THE long-neglected and much maligned Festival Plaza in Adelaide has received a hero in the form of long-time neigh...

NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

DATA centre operator NEXTDC (ASX: NXT) has started a bidding war with 360 Capital Group to take over Asia Pacific ...

THE AUSTRALIAN STARTUP THAT TAPPED IBM WATSON FOR ITS TECH-DRIVEN VOD SERVICE

VIDEO on demand technology startup Oovvuu has teamed up with IBM to launch a news platform powered by its AI produ...

SUPER RETAIL GROUP SAYS GOODBYE TO AMART SPORTS BRAND

A BRAND synonymous with Australian sporting goods, Amart Sports, will be retired from 1 November 2017. Super R...

Related News

SKYCITY INJECTS $330 MILLION INTO FESTIVAL PLAZA REDEVELOPMENT

THE long-neglected and much maligned Festival Plaza in Adelaide has received a hero in the form of long-time neigh...

NEXTDC ENTERS BIDDING WAR WITH 360 CAPITAL GROUP FOR APDC

DATA centre operator NEXTDC (ASX: NXT) has started a bidding war with 360 Capital Group to take over Asia Pacific ...

THE AUSTRALIAN STARTUP THAT TAPPED IBM WATSON FOR ITS TECH-DRIVEN VOD SERVICE

VIDEO on demand technology startup Oovvuu has teamed up with IBM to launch a news platform powered by its AI produ...

SUPER RETAIL GROUP SAYS GOODBYE TO AMART SPORTS BRAND

A BRAND synonymous with Australian sporting goods, Amart Sports, will be retired from 1 November 2017. Super R...

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