Adelaide industrial site fetches $15m
Realside has acquired an industrial development site near the RAAF Base Edinburgh, north of Adelaide.
The 4.368 hectare property, 34-50 Essington Drive, cost $14.85 million following an off-market deal.
It will seed the Realside Ovest Industrial Fund No 3, launched in November.
Leedwell’s Andrew De Palma and Harry Treloar brokered the off-market deal.
Realside Ovest – formed by Realside Financial Group and Hero Property Management, and based in Perth – with Realside, also known as Realside Property, with bases in Sydney and Perth, will manage the trust.
“The third fund in the Realside Ovest series…will continue to identify industrial development opportunities with further acquisitions under active consideration,” the buyer said (continues below).
Edinburgh is about 30 kilometres from the CBD.
Three weeks ago we reported QIC sold Accord a 4.65ha industrial investment in the suburb, with a 17,890 square metre improvement, leased to WW Purchase Co, for $24.5m – a 6.2 per cent net passing yield.
Also recently Corval outlaid $18.1m for a 4.36ha Edinburgh amalgamation, 65-69 West Avenue and 12 Kaurna Ave, with a 12,325 sqm office/warehouse occupied by K&B Frame & Truss, a Metcash subsidiary.
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