Centuria sheds Cleanaway depot after five years
EXCLUSIVE
Centuria has quietly sold a Perth maintenance depot occupied by Cleanaway, which sold it years ago with a leaseback.
The 1.83 hectare Malaga asset, 171 Camboon Road, achieved a price of $17.37 million – an initial 6.21 per cent yield, according to the marketing agents, from a local private investor.
Also exposed to Cusack Rd, it contains 3228 square metres of improvements covering a low 18pc of the block.
ASX-listed Cleanaway founder Brambles completed the facility in 1986.
Centuria, for the Diversified Property Fund, paid $11.75m in 2021 (continues below).
It was offered this time around following a lease extension and market review.
CBRE’s Andrew Bell and Josh Deluca were the agents following an off-market campaign.
Malaga is about 12 kilometres north of the CBD.
Also this week, Centuria launched a fund seeking investors for a 50pc stake in two Sydney World Square offices, priced at c$450m.
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