By proceeding you confirm that you are a resident of Australia or New Zealand accessing this website from within Australia or New Zealand and you represent, warrant and agree that:
Unfortunately, legal restrictions prevent us from allowing you access to this website. If you have any questions, please contact us by e-mail by clicking on the link below.
Charter Hall’s Core Plus Industrial Fund (CPIF) has acquired the GWA Group Limited (GWA) property, situated on the corner of Victoria and Walter Streets in Sydney, for $33 million, reflecting an initial passing yield of 10.6%.
The property, located on a high profile eight hectare corner site within the established and land constrained Wetherill Park industrial precinct, has been acquired from GWA on a sale and leaseback agreement. It comprises a generic high clearance 11,460sqm warehouse, constructed in 2006, and a circa 1975 flexible and functional medium clearance factory premises of 28,385sqm.
CPIF Fund Manager, Paul Ford said the acquisition was consistent with the Group’s strategy of acquiring properties in land constrained areas, leased to quality tenants and with the ability to unlock value:
“We have been actively re-weighting our portfolio over the last three years towards the Sydney industrial market in light of improving fundamentals, whilst also selectively acquiring assets where we can provide enhanced returns for our investors, leveraging off the Fund’s sound position with its longWALE and 100% occupancy"
“This facility is fully leased to ASX listed GWA subsidiary, Caroma Industries on a three year sale and leaseback and provides a strategic land bank for potential future redevelopment, in a much sought after location. The acquisition increases CPIF portfolio value to over $1 billion with a development pipeline of approximately
$250 million and a Portfolio WALE of 7.4 years,” he said.
The property is well located to the M4 and M7 Motorway’s with access to Wetherill Park greatly improved since the recent extension of Reconciliation Drive.
Charter Hall and GWA have exchanged conditional contracts with settlement due to occur in June 2015.
Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
© Charter Hall Group, 2024.