Australia Post sheds three more distribution centres with leasebacks
Australia Post has sold three more Adelaide distribution centres offered in March with leasebacks.
The biggest asset, neighbouring properties in Wingfield, offered separately, sold to one buyer, Didal Pty Ltd & ANR, for $16.555 million.
A 17,692 square metre office/warehouse occupies one of the holdings – 519-523 Grand Junction Road.
Australia Post offered it with a three year leaseback from settlement with starting annual rent of $2,652,210 ex-GST.
The land is known as Lot 1 Francis Rd.
It was also offered with a three-year leaseback from settlement.
Annual starting rent there is $666,000 ex-GST.
CBRE’s Andrew Bell and Paul McKay with Leedwell’s Andrew Zammit and Steve Smith were the agents.
Salisbury South, Modbury North deals
Meanwhile, Australia Post has sold a distribution centre at 78-82 Rundle Rd, Salisbury South, for $3,855,500 – a 5.5 per cent yield.
On 4502 sqm it contains a 1310 sqm improvement (continues below).
Part of a warehouse is temperature controlled.
The final Adelaide asset the group has just sold – 12 Famechon Crescent, Modbury North – collected $2.56m – a 5.9 per cent yield.
On 2897 sqm it contains a 1090 sqm improvement including a 224 sqm garage.
Both were also offered with three year leasebacks from settlement.
Mr Zammit and Mr Smith were again the agents.
Balance of Adelaide portfolio sold
The sales come three weeks since realestatesource.com.au reported Australia Post 65 Galway Avenue, Marleston – the final Adelaide asset in the portfolio – for $4.6m, a 5.5pc yield.
The government has also sold much larger assets outside of South Australia including in Sydney, a Granville, facility, for a speculated $115m.
In Queensland, the postal group has shed assets in Brisbane, at Northgate, to Pittwater Industrial, and Darra, to Charter Hall, and on the Gold Coast, in Bundall, to Boldstone.
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