Braeside warehouses trade with a leaseback
Food packaging manufacturer Caspak has sold its new Braeside headquarters with a five year leaseback.
The two connected buildings, offered separately, sold to a private investor for a combined $11.15 million reflecting a 4.37 per cent yield.
One property, 4-6 Sugar Gum Court, collected the bulk of the return – $7.5m.
Colliers’ Daniel Telling, the agent, said demand for A-grade industrial investments is strong despite the rising interest rate backdrop.
Elsewhere in the area, Frasers Property Industrial has fully developed the Braeside Industrial Estate on a 23ha site acquired from Lloyd Williams’ Hudson Conway in 2018.
Occupiers there include DKSH, Gale Pacific, Puma, Toll Global Express and IVE Group – the latter which occupies two warehouses.
Braeside is 25 kilometres south east of Melbourne (story continues below).
Green warehouse
Containing 4019 square metres, the Caspak office/warehouse, also including 8 Sugar Gum Ct, was built and fit out with recycled materials, where possible.
Energy is generated from a 134kw solar system – six times stronger than at its former headquarters.
The property also utilises power saving automatic lighting.
There are two electric charging points too – as Caspak looks to have an all-electric fleet.
Subscribe to our newsletter at the bottom of this page.
