The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
URBANITY-25 FIRST RELEASE TICKETS ON SALE LIMITED AVAILABILITY
URBANITY-25 FIRST RELEASE TICKETS ON SALE LIMITED AVAILABILITY
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterSun 02 Jul 17

Industrial Popularity High As Centuria Makes Acquisition

207-219-Browns-Rd-1_620x380

Centuria has acquired a 43,000 square metre distribution centre in Melbourne’s south-eastern industrial heartland for $37 million.

The deal was brokered by Dawkins Occhiuto Director Chris Jones on sharp 6.9 per cent yield.

The 207-219 Browns Road, Noble Park, property was sold fully leased to four tenants including URI International, E & S Trading, Tomax Logistics and Parton Wine Distribution, on a WALE of nine years with a passing income of $2,580,583 per annum net.

Located on a main thoroughfare in a tightly held precinct with excellent access to EastLink, the M1 Freeway and the Princes Highway, the property comprises seven office and warehouse buildings totalling 43,331 square metres, with full drive around access, on a 58,140 square metre site.

"Industrial yields have tightened by up to 50 basis over the last 12 months and are now at their lowest point in at least a decade, and we will continue to see that tightening while industrial property offers such an attractive differentiation to other types of property investment,’’ Mr Jones said.

He said the private sale had attracted a lot of interest from a wide range of local, interstate and off-shore buyers.

"Industrial property is increasingly on the radar of serious investors and any opportunities within key industrial markets are now the target of forensic examination as the competition for the best and highest yielding assets intensifies.

"We expect this market to continue to show strong results especially as the availability of prime stock dwindles. That situation may see owners consider taking advantage as vendor, 215 Browns Road Pty Ltd, has done here,’’ Mr Jones said.

Vendor, 215 Browns Road Pty Ltd, purchased the property in August 2014 for $20.8 million from Aspen Group, representing an increase in value of in excess of $16 million in under three years or an uplift of nearly 80 per cent.

IndustrialAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
High-density residential construction in Melbourne
Exclusive

Stabilising Conditions in Melbourne Bring Hopes of Improved Feasibility

Leon Della Bosca
6 Min
QBCC project trust accounts hero
Exclusive

Developers Warned as Commission Cracks Down on Subbie Pay Scheme

Clare Burnett
7 Min
Urban Infill site at Tonsley SA
Exclusive

SA Grapples with ‘Development Killer’ Carparking Law Changes

Leon Della Bosca
7 Min
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Fraser and Partners founder Callum Fraser
Exclusive

Saving Our CBDs: Architect’s Blueprint Paves Way for Office-to-Resi that Works

Leon Della Bosca
8 Min
View All >
The underpass site in Southbank that the City of Melbourne plans to turn into a community park.
Community

Melbourne Moves Ahead on Overpass-to-Park Plan

Marisa Wikramanayake
Sponsored

Property Scholarship Offers Lifeline for Aspiring Women

Partner Content
High-density residential construction in Melbourne
Exclusive

Stabilising Conditions in Melbourne Bring Hopes of Improved Feasibility

Leon Della Bosca
Construction costs normalising, loan conditions improving, overseas money returning. Perhaps the sector has turned the c…
LATEST
The underpass site in Southbank that the City of Melbourne plans to turn into a community park.
Community

Melbourne Moves Ahead on Overpass-to-Park Plan

Marisa Wikramanayake
3 Min
Development

Property Scholarship Offers Lifeline for Aspiring Women

Partner Content
3 Min
High-density residential construction in Melbourne
Exclusive

Stabilising Conditions in Melbourne Bring Hopes of Improved Feasibility

Leon Della Bosca
6 Min
Retail

Conquest Picks Up Castlecrag Baton After $250m Deal

Leon Della Bosca
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/centuria-noble-park-industrial-acquisition