TradedAU’s Post

View organization page for TradedAU, graphic
TradedAU

6,773 followers

SALE IMAGE: Trent Gallagher, Gavin Bishop, Sean Thomson, Peter Dale ADDRESS: Smithfield Central Industrial Estate, 338-350 Woodpark Road & 1 Dupas Street, Smithfield, NSW 2164 MARKET: Smithfield (Wester Sydney) ASSET TYPE: Warehouse, Factory, Industrial SELLER: EK Nominees (Katz family) BUYER: Irongate Group AGENTS: Trent Gallagher, Gavin Bishop, Sean Thomson, Peter Dale; Colliers   TENANT: Multiple SALE PRICE: $57,250,000 BUILDING SIZE: 17,546 sqm  LAND SIZE: 33,988 sqm BUILDING SALE RATE: $3,262.85/sqm LAND SALE RATE: $1,684/sqm WALE: 1.7 years NOTES: With this acquisition Irongate Group launches their Industrial Property Fund focusing on low-risk infill sites with large land holdings. In line with the Smithfield asset, which was acquired for below land-and-replacement costs, these assets are often underutilised, income-generating properties with strong positive rental reversion. ▶ The fund will be managed by Irongate with seed funding from both Irongate and Burstone Group (Johannesburg). ▶ This acquisition includes co-investment from APAC-focused private equity real estate investment group Phoenix Property Investors (Hong Kong). ▶ Irongate CEO, Graeme Katz: “We believe the positive momentum in the industrial sector is sustainable, particularly in key infill areas. The Smithfield acquisition is the first of many we intend to make in the short term. We have our sights set on a number of under-rented assets in key logistics hubs across the country.” ▶ Phoenix’s Head of Australian Investments, Trent Winduss: “We are strong believers in the Australian market and the industrial sector more specifically. We look forward to adding to the portfolio by acquiring future assets together.” ▶ Trent Gallagher, Colliers: “This key infill industrial asset was highly sought-after due to its short WALE allowing immediate rental upside for the incoming purchaser.” ▶ Gavin Bishop, Colliers: “The Western Sydney industrial market has a vacancy rate at present of 0.2% which is causing significant demand for any up-and-coming vacancies resulting in record rents being paid by tenants on a regular basis.” #gws #sydney #sydneybusiness #sydneyproperty #sydneyrealestate #indsustrialland #factory #warehouse #colliers #colliersau #realestate #property #tradedau #transactions #developmentsite #development #propertyinvestment #propertydeveloper #propertydevelopment #propertyfinance #harbourcity #surfinglife #land #investment #landbank #cre #commercialrealestate #commercialproperty #industrial #industrialinvestment #vacantland #australianproperty #australianpropertymarket #asiapacific #westernsydney #irongate #phoenix TradedAU CapStack

  • No alternative text description for this image

To view or add a comment, sign in

More Relevant Posts

TradedAU

6,773 followers

View Profile

Explore topics