Macquarie Goodman has sold a number of properties and development land to the Macquarie Goodman Australian Wholesale Fund for $60.9 million.
In addition, MGW has also bought four new development projects for a total tend value of $83.8 million.
Macquarie Goodman has sold the Prestons Distribution Centre in New South Wales, so far 23,970 sqm has been pre-committed to Mainfreight.
At the Boundary and Fitzgerald Distribution Centres in Laverton, Victoria, Macquarie Goodman has sold a 55,657 sqm project, which has 24,980 sqm under development.
The properties are valued at approximately $100.1 million on completion and will have weighted average lease expiry of 10.1 years.
MGW has also bought four new development projects that will add 70,950 sqm to the MGW portfolio and have a weighted average lease expiry of 13.4 years.
MGW will have 100% in the 4,090 sqm Siemens facility at the Campbellfield Distribution Centre in Victoria and 4,000 sqm Lafarge Facility in Goldborough Industrial Estate in South Australia.
MGW will have a 50% in the 49,034 sqm Coles CDC in the M7 Business Hub in NSW and 13,826 sqm Linfox Facility in Goldsborough Industrial Estate in SA.
The remaining 50% balance is owned by third parties.
“We have secured new major commitments from existing customers and are pleased that MGW has once again chosen to acquire the assets in various stages of development,” Macquarie Goodman’s chief executive David van Aanholt said.
van Aanholt added that the disposal of properties reflects Macquarie Goodman’s commitment to recycling capital and the enhancing its managed funds.
Following the acquisition and completion of the developments, MGW will comprise a portfolio of 47 properties valued at approximately $1.6 billion, with gearing of 33% at June 30, 2006.
By Kathryn O’Meara
