Propertylink Spends $45 million In Sydney And Gold Coast

Propertylink has purchased two properties, one in Sydney and one on the Gold Coast for a combined $45.56 million according to The Australian Financial Review. 

The property investment and asset management company has now spent more than $500 million in purchases in 2015.

Its Propertylink Australian Industrial Partnership II fund has purchased a logistics property at 27 Frank Street Wetherill Park, Sydney, for $16.56 million. The industrial property is located 30km west of Sydney and 10km west of the Parramatta CBD.

The site area is 41,720 sqm and according to the AFR has potential for further development and acquired on an 8.3 per cent yield.

The second acquisition at 1 Lahrs Road, Ormeau, in the Yatala Enterprise Area, is 100 per cent leased for 11 years to Seabest International, a frozen food supplier. The net lettable area is 9590 sq m. The purchase price of $29 million resulted in a yield of 7 per cent.

Propertylink is an investment manager in institutional investment grade Australian property and infrastructure. According to its website it has over $2 billion in assets and projects under management.