ASX-listed Centuria Industrial REIT has settled on its $32.5 million acquisition of Beacon Lighting’s Melbourne distribution centre and the Breezeway Australia Queensland offices and manufacturing facility.
The acquisitions followed the trust’s record breaking $416.7 million acquisition earlier this month of a Telstra data centre complex.
Located in the western Melbourne suburb of Derrimut, Beacon Lighting’s purpose built 11,469 sqm warehouse and office facility sits on two hectares within the Gilbertson Industrial Estate and secured for $20 million under a triple-net lease structure. The figure represented an initial yield of 5.5% and the asset has a weighted average lease expiry of 8.0 years.
Breezeway Australia’s state head headquarters in the inner suburb of Coorparoo was bought for $12.5 million. The building has 5,893 sqm of gross lettable area on a circa 9,000 sqm site.
