Melbourne, 3 March 2013 – ASX-listed printer and publisher PMP has boosted the sales tally from its national sale and leaseback campaign to over $74 million with the sale of the final portion of its Clayton facility in Melbourne.
Syndication business Sierra Leyton has secured the office/warehouse property at 209-211 Carinish Road in a $7.75 million deal facilitated by CBRE’s Angus Klem and Rory Hilton.
The sale price reflects an initial yield of 9.4%.
“Sale and leasebacks are continuing to come to the fore as the industrial market strengthens, giving corporates the opportunity to unlock the value of their real estate holdings and reinvest funds into their core business activities,” Mr Klem said.
“Through a sale and leaseback program, companies can release funds, retain long-term occupancy of their sites and deploy capital more efficiently.”
PMP has taken a 10-year lease over the facility, which has a gross building area of 12,166sqm. It is situated on a large site of 31,873sqm.
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