Asset managers trade two south-west Brisbane industrial estates
ESR is selling two south-west Brisbane industrial estates to asset manager CapRu for $73.8 million.
The priciest investment, 57-101 Balham Road, Archerfield, contains seven buildings with a total 24,301 square metres, on 4.47 hectares.
With improvements between 774sqm-4,211sqm, it is fully leased to 13 tenants, the net income in July was $3,582,866.
The weighed average lease expiry then was 1.8 years.
ESR, via Propertylink which it acquired, paid $24.5m in 2014.
That seller was Dexus Projects Ltd.
Richlands deal
ESR is also selling CapRu 848 Boundary Rd, Richlands (pictured, top).
On 2.35 hectares it contains six buildings with a total 9794 sqm.
Also fully leased, it returns $1,437,863 net annual rent (continues below).
The WALE is 2.4 years.
Cushman & Wakefield’s Gary Hyland and Morgan Ruig with CG Property Group’s Michael Callow and Mark Gilbride brokered both deals.
Below replacement cost: CapRu
Sydney-based Capital Prudential, trading as CapPru, has earmarked the properties for its CP Industrial Value Add Fund.
The trust’s strategy is to acquire, actively manage and add value to fully leased industrial property in Brisbane’s south.
The buyer said the portfolio was acquired materially below replacement cost.
ESR is continuing to recycle capital, having realised more than US$2 billion in net proceeds from non-core divestments and balance-sheet recapitalisations since January 2025.
At December 31, 2025, ESR had $22.9b of assets under management in Australia.
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