Centuria Capital Group has successfully acquired another South Australian property, this time for the Centuria Industrial REIT (ASX:CIP) portfolio, demonstrating its ongoing confidence in the state.
The purchase of SA Structural’s industrial facility in Edinburgh on a sale and leaseback follows a recent Centuria office acquisition in the Adelaide CBD.
CIP is Australia’s largest domestic pure play industrial REIT and is included in the S&P/ASX 300 Index. CIP’s portfolio of high-quality industrial assets is situated in key metropolitan locations throughout Australia and is underpinned by a quality and diverse tenant base.
Through active management, CIP aims to provide investors with income and an opportunity for capital growth from a pure play portfolio of high quality Australian industrial assets.
Ross Lees, Head of Funds Management and CIP Fund Manager, said; “We are pleased to be acquiring another quality industrial asset that has good connectivity to key infrastructure, is well located in the Edinburgh industrial precinct and utilises CIP’s existing balance sheet capacity, continuing to position CIP as Australia’s largest domestic pure play industrial REIT.”
SA Structural, a privately-owned national company is one of the largest employers in the northern suburbs of South Australia, and one of the largest structural steel manufacturers in Australia.
Its Edinburgh facility comprises a state-of-the-art office and warehouse built 2013 with a total GLA of 13,007sqm, on a landholding of 65,210sqm over two titles.
CBRE’s Jordan Kies, Craig Klemich and Chris O’Brien were appointed to manage the off-market sale of the 40-54 Kaurna Avenue facility.
Mr Kies commented; “There is a lot of off market industrial investment activity, which the general market may not necessarily be privy to. This deal reinforces the continued faith in Edinburgh as the first-class industrial precinct of South Australia.”
Mr Kies noted that Edinburgh was an attractive location for investors and occupiers due to the availability of functional high clearance and modern facilities, which were less frequently available in South Australia’s traditional industrial locations.
The Northern Connector project due for completion in late 2019 will further enhance the precinct, significantly reducing transit times.
The purchase of SA Structural’s industrial facility in Edinburgh on a sale and leaseback follows a recent Centuria office acquisition in the Adelaide CBD.
CIP is Australia’s largest domestic pure play industrial REIT and is included in the S&P/ASX 300 Index. CIP’s portfolio of high-quality industrial assets is situated in key metropolitan locations throughout Australia and is underpinned by a quality and diverse tenant base.
Through active management, CIP aims to provide investors with income and an opportunity for capital growth from a pure play portfolio of high quality Australian industrial assets.
Ross Lees, Head of Funds Management and CIP Fund Manager, said; “We are pleased to be acquiring another quality industrial asset that has good connectivity to key infrastructure, is well located in the Edinburgh industrial precinct and utilises CIP’s existing balance sheet capacity, continuing to position CIP as Australia’s largest domestic pure play industrial REIT.”
SA Structural, a privately-owned national company is one of the largest employers in the northern suburbs of South Australia, and one of the largest structural steel manufacturers in Australia.
Its Edinburgh facility comprises a state-of-the-art office and warehouse built 2013 with a total GLA of 13,007sqm, on a landholding of 65,210sqm over two titles.
CBRE’s Jordan Kies, Craig Klemich and Chris O’Brien were appointed to manage the off-market sale of the 40-54 Kaurna Avenue facility.
Mr Kies commented; “There is a lot of off market industrial investment activity, which the general market may not necessarily be privy to. This deal reinforces the continued faith in Edinburgh as the first-class industrial precinct of South Australia.”
Mr Kies noted that Edinburgh was an attractive location for investors and occupiers due to the availability of functional high clearance and modern facilities, which were less frequently available in South Australia’s traditional industrial locations.
The Northern Connector project due for completion in late 2019 will further enhance the precinct, significantly reducing transit times.
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
