Sale includes portfolio’s biggest asset, 15 Modal Crescent, Canning Vale.
The logistics portfolio belonging to COPE Sensitive Freight, Australia’s largest privately-owned specialist sensitive freight carrier has gone to market through Colliers International.
The portfolio, which includes seven leased properties, with one asset in every Australian state, and one in the Northern Territory, is expected to attract strong bids from the market.
“This geographically diverse portfolio will be well received by domestic buyers looking for securely leased investments and overseas buyers who are keen to add an Australian asset to their portfolios,” said Colliers International Director Industrial Agency Raj Singh.
“Assembled during the past 28 years, the seven assets in the portfolio are leased to COPE Sensitive Freight and will have a WALE of 10 years from settlement.”
Mr Singh said the WA asset, a transport, warehouse and logistics facility at 15 Modal Crescent in Canning Vale occupied a 30,900sqm site and was the biggest property in the portfolio.
“The site coverage for the Canning Vale property is 31 per cent and the overall portfolio’s site coverage is just 32 per cent, so there is plenty of scope for future development.”
Known as The Secure 7, the COPE portfolio has a total site area of 78,042sqm and an annual net passing income of $2.23 million.
The properties can be purchased in one line or separately.
COPE Sensitive Freight is owned by the Federal Group, a family company which operates tourism, hospitality, retail, casino and gaming assets in Tasmania.
With demand to buy leased industrial properties exceeding supply, Mr Singh said the Perth office had sold seven assets valued at more than $190 million in sale and lease back deals during the past nine months.
“Yields ranged from early six per cent to the middle sevens based on the strength of the tenant, lease term and the asset’s location,” he said.
“Given the strength of money looking for home in Australia, we believe the COPE portfolio will be well contested.”
The portfolio also includes: 40 Fulton Drive, Derrimut, Victoria; 1A Symonds Street, Royal Park, South Australia; 21 Pipeclay Avenue, Thornton, NSW; 16 Anictomatis Road, Berrimah, Northern Territory; 229 Kennedy Drive, Cambridge, Tasmania and 2-8 Ridley Road, Edmonton, Queensland.
Expressions of interest close on August 2.