Centuria Industrial REIT (ASX: CIP) has snapped up a trio of significant industrial sites on the east coast as part of a major national industrial portfolio play.
A 4,410sqm property (GLA) at 51-65 Wharf Road in Port Melbourne has been sold in a deal which represents a 3.7% initial yield. CIP was represented in this deal by Colliers’ Jack Kelliher.
The sale of a $200.2million super-prime distribution centre, located at 56-88 Lisbon Street in Fairfield, NSW, was negotiated by Gavin Bishop and Sean Thomson of Colliers.
56-88 Lisbon Street is the largest standalone industrial asset to transact this year, and only one of seven over $100million to trade.
In Queensland, Colliers’ Simon Beirne and Levi Maxwell facilitated the $19million sale of a 9,089sqm (GLA) distribution centre at 31 Gravel Pit Road, Darra to CIP. The deal represented an initial yield of 5.0%.
All three sales form part of a portfolio of eight high-quality industrial properties acquired by CIP within key urban infill markets throughout Sydney, Melbourne, Brisbane and Perth for a collective $351million, on a blended initial yield of 4.1%.