Arcana secures Cassowary Coast warehouses
Arcana Capital, established in 2015 by ex-Queensland premier Campbell Newman and Dominic Condon, has acquired neighbouring Cassowary Coast warehouses for $6.6 million.
The 1.36 hectare amalgamation, Lot 6 and 17 Ann Road, Silky Oak, is part tenanted to Mackays, the country’s largest banana producer, which occupies a cold storage facility.
Visy fills the balance for a distribution centre.
All up there is 6884 square metres of lettable area adjacent to the Bruce Highway and Main Northern Railway line.
CBRE’s Jack Hardy was the agent.
The purchase comes three months since the group outlaid $10.9m on a two hectare West Kalgoorlie industrial investment – its second in the Western Australia town.
Arcana reweighs in Queensland
Arcana will hold the Silky Oak property in the 18 South – Logistics Unit Trust, which is promising a 10 per cent distribution paid monthly (story continues below).
The deal comes six months since the syndicator outlaid $3.5m for a Paget, Mackay, warehouse, near a medical centre it also owns in the town.
Elsewhere in Queensland, in June, the group banked $9m from a small retail investment at Bongaree, Bribie Island.
It paid $7.3m for that property in 2017.
Five months ago, Arcana offloaded a Toowoomba childcare centre for $5.75m.
That deal also reflected a windfall – held by a trust which outlaid $3.5m in 2019 and banked eight per cent monthly distributions.
Silky Oak is about 150 kilometres south of Cairns.
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