IOOF head of Property Investments Simon Gross said: “We are very pleased with the investments we have secured through Australand. The assets provide high quality, long term covenants and brand new prime grade industrial assets. These properties complement our direct property mandate to invest in core, fully leased assets using low gearing.”
“These assets will be placed in the Property Plus diversified trust which has generated an annualised return of 11.58% per annum over the last ten years. Having recognised investors’ requirements for funds which deliver relatively high and consistent returns during periods of economic uncertainty, IOOF has allocated an additional $90 million to acquire prime properties,” Mr Gross said.
Colliers International’s Peter Evans and Tony Iuliano sold the site with Australand’s Andrew Hanna.