Aldi to sell $700 million worth of Australian east coast distribution centres
Postscript: this portfolio sold in June, 2020, for $648 million to Allianz Real Estate groups and Charter Hall Group’s Charter Hall Prime Industrial Fund. Read our story here.
Aldi will offload $700 million worth of distribution centres on Australia’s east coast – with leasebacks.
The four warehouses return annual rent totalling about $30 million.
Sale proceeds will be used to fund the opening of more supermarkets, it is being reported.
The Australian and AFR both broke news of the upcoming listing on Tuesday.
JLL is the marketing agency.
Sale and leaseback industrial: the new black
There are a number of suitors chasing modern investment grade and securely leased, purpose-built industrial stock – which is reportedly the reason Aldi has decided to test the market.
Last week Australasian Property Investments spent $20 million on a Henderson factory in Perth developed 10 years ago by the vendor, Matrix Composites, which offered it with a 20 year leaseback.
Arnott’s recently offloaded three industrial facilities:
- Charter Hall Prime Industrial Fund and Charter Hall Long WALE REIT spent a total of $397.8 million for the biscuit maker’s Huntingwood, Sydney, factory, and
- Centuria Industrial REIT paid $236.2 million for Adelaide and Brisbane factories offered by Arnott’s with a 30 year leaseback.
In December Charter Hall paid Beacon Lighting $28 million for an ex-Masters outlet turned distribution centre in Brisbane’s Parkinson.
A month earlier Cotton On offloaded a small factory in inner north east Melbourne’s Fairfield with five years left to run on a tenancy.
Also last July Viridian Glass banked $100 million selling Charter Hall its Dandenong South headquarters with a nine year leaseback.
Elsewhere in the suburb, Charter Hall last year invested $30.9 million for 282-300 Hammond Road, offered by Greenacre Developments with a 20 year rental agreement.
In the retail real estate sector, 7-Eleven, BP (again to Charter Hall), Coles and Woolworths have recently sold stock worth a total of more than $1 billion, as leaseback opportunities.
