Description
McGregor HomeCentre & Newcastle Industrial acquired for new REIT
2 prominent industrial investments were acquired for a small Real Estate Investment Trust. The first property acquired was a in Mayfield West, near Newcastle CBD. The acquisition was located in Newcastle’s prime industrial precinct. The second property was a large-format retail centre located at 555 Kessels Road, McGregor. Investor’s acted quickly and the trust was wrapped up before the official closing date.
The quick snapshot of the Mayfield freehold and leasehold details were
Total Net Lettable Area : 4598 m2 approx. including mezzanine of 1000 sqm.
Land Area: 14230 sqm approx.
Lease term: 7 years
Initial yield: 6.2% pa
Current Base Rent: $612,500
Purchase Price: $9.92 M
REIT Type: Wholesale
Date: March 2021
Next up the McGregor Home Centre
Land Area: 29100 sqm approx.
Building Area: 12355 sqm
WALE : 5.9 years
Initial yield: 6.0% pa
Current Base Rent: $2.6m approx
Purchase Price: $42.15 M
REIT Type: Wholesale
Date: March 2021
Further details are available from Rob Stanley-Turner 0418 98 2000.
Future potential co-investing notified by email.
Disclaimer:
All areas and figures are approximate only. All reasonable steps have been taken to ensure the accuracy of this information and this does not constitute any representation by us as agent and should be considered a guide only.
