AMP Capital, on behalf of Swiss RE, has sold a logistics facility in Eastern Creek for $130.1 million setting a new record low yield of 3.62%.The warehouse is the distribution facility for Best & Less and comprises a 35,000sqm warehouse with associated office space and was originally developed for Best & Less by Australand in 2011.The Lendlease Prime Property Industrial Fund acquired the asset with an 8 year lease term remaining with Best & Less. The reported passing yield of 3.6% and reflects a rental rate of c$136/sqm pa, which is consistent with the new assets in the area.Swiss RE acquired the asset for $99.5M (4.9% yield) in March 2019 from Greenlite brands as part of a diversified mandate provided to AMP Capital. Swiss Re (via AMP Capital) also acquired Marketplace Warner for $78M in October 2017; 469 LaTrobe Street Melbourne VIC for $160M in November 2017; 32 Walker Street North Sydney from an Abacus and Heitman in late 2017 for $74.75m and a 50% interest in two buildings in Carrington Street for $250m.AMP Capital have been gradually divesting the portfolio under the instructions of Swiss RE.EG Funds Management are reported to be in due dilligence on the remaining office assets.Eucalyptus PlacePrevious ArticleNext Article
The warehouse is the distribution facility for Best & Less and comprises a 35,000sqm warehouse with associated office space and was originally developed for Best & Less by Australand in 2011.The Lendlease Prime Property Industrial Fund acquired the asset with an 8 year lease term remaining with Best & Less. The reported passing yield of 3.6% and reflects a rental rate of c$136/sqm pa, which is consistent with the new assets in the area.Swiss RE acquired the asset for $99.5M (4.9% yield) in March 2019 from Greenlite brands as part of a diversified mandate provided to AMP Capital. Swiss Re (via AMP Capital) also acquired Marketplace Warner for $78M in October 2017; 469 LaTrobe Street Melbourne VIC for $160M in November 2017; 32 Walker Street North Sydney from an Abacus and Heitman in late 2017 for $74.75m and a 50% interest in two buildings in Carrington Street for $250m.AMP Capital have been gradually divesting the portfolio under the instructions of Swiss RE.EG Funds Management are reported to be in due dilligence on the remaining office assets.Eucalyptus PlacePrevious ArticleNext Article
The Lendlease Prime Property Industrial Fund acquired the asset with an 8 year lease term remaining with Best & Less. The reported passing yield of 3.6% and reflects a rental rate of c$136/sqm pa, which is consistent with the new assets in the area.Swiss RE acquired the asset for $99.5M (4.9% yield) in March 2019 from Greenlite brands as part of a diversified mandate provided to AMP Capital. Swiss Re (via AMP Capital) also acquired Marketplace Warner for $78M in October 2017; 469 LaTrobe Street Melbourne VIC for $160M in November 2017; 32 Walker Street North Sydney from an Abacus and Heitman in late 2017 for $74.75m and a 50% interest in two buildings in Carrington Street for $250m.AMP Capital have been gradually divesting the portfolio under the instructions of Swiss RE.EG Funds Management are reported to be in due dilligence on the remaining office assets.Eucalyptus PlacePrevious ArticleNext Article
Swiss RE acquired the asset for $99.5M (4.9% yield) in March 2019 from Greenlite brands as part of a diversified mandate provided to AMP Capital. Swiss Re (via AMP Capital) also acquired Marketplace Warner for $78M in October 2017; 469 LaTrobe Street Melbourne VIC for $160M in November 2017; 32 Walker Street North Sydney from an Abacus and Heitman in late 2017 for $74.75m and a 50% interest in two buildings in Carrington Street for $250m.AMP Capital have been gradually divesting the portfolio under the instructions of Swiss RE.EG Funds Management are reported to be in due dilligence on the remaining office assets.Eucalyptus PlacePrevious ArticleNext Article
AMP Capital have been gradually divesting the portfolio under the instructions of Swiss RE.EG Funds Management are reported to be in due dilligence on the remaining office assets.Eucalyptus PlacePrevious ArticleNext Article
EG Funds Management are reported to be in due dilligence on the remaining office assets.Eucalyptus PlacePrevious ArticleNext Article
