Industrial sites on offer
Property group Primewest has put six industrial properties in Victoria and West Australia on the market. NZ-listed logistics company Mainfreight is offloading its 29,640 square metre site in Clayton via a sale and leaseback arrangement. CBRE's Rory Hilton said Mainfreight had committed to a new five year lease with an option guaranteeing a significant rent period.
Primewest's 95,000 sq m portfolio was expected to sell for about $90 million, Colliers International agents Tony Iuliano and Wayne Chorley said. It includes four Victorian properties: a 4072 sq m office-warehouse near Tullamarine airport, a 29,281 sq m complex in Dandenong South and two office-warehouses in Thomastown leased to Amcor until mid-2016.
The West Australian holdings include four hectares of land with office-warehouse leased to Amcor in Bibra Lake and a 16,400 sq m leased facility in the Australian Marine Complex at Henderson.
"There is currently a much greater demand for scale in the market with major institutions preferring to invest in a strong, high yielding portfolio as opposed to individual assets," Primewest director David Schwartz said.
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Primewest has placed a six-property industrial portfolio on the market across Victoria and Western Australia, totalling about 95,000 square metres and expected to fetch around $90 million.
The portfolio is roughly 95,000 sq m in total and Colliers International agents said it was expected to sell for about $90 million.
The Victorian assets include a 4,072 sq m office-warehouse near Tullamarine airport, a 29,281 sq m complex in Dandenong South, and two office-warehouses in Thomastown that are leased to Amcor until mid-2016.
Primewest's Western Australian holdings include four hectares of land with an office-warehouse leased to Amcor in Bibra Lake and a 16,400 sq m leased facility in the Australian Marine Complex at Henderson.
New Zealand‑listed logistics company Mainfreight is selling its 29,640 sq m Clayton site via a sale-and-leaseback arrangement and has committed to a new five-year lease with an option that guarantees a significant rent period, according to CBRE's Rory Hilton.
The article names Amcor as a tenant: two Thomastown office‑warehouses are leased to Amcor until mid‑2016, and there is an Amcor‑leased office‑warehouse on four hectares at Bibra Lake. Mainfreight is also a tenant under a sale‑and‑leaseback at Clayton with a new five‑year lease and option.
Primewest director David Schwartz said there is greater demand for scale in the market, with major institutions preferring to invest in strong, high‑yielding portfolios rather than individual industrial assets.
The article indicates major institutions and large investors are showing interest because they prefer scale and high‑yielding industrial portfolios, making these multi‑asset offerings attractive to institutional buyers.
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