Charter Hall expands Minto holding again

The 1.34 hectare block will form part of the Airds Road Logistics Hub.

Charter Hall, on behalf of the Prime Industrial Fund, has quietly purchased another holding on Minto’s Airds Road.

The 1.34 hectare block at #155 is setting the group back $14.1 million.

It will be connected to the neighbouring 7.69ha block, #137-149, which the manager acquired from Toyo for $75m last October.

Both properties will be replaced with a master-planned business park, the Airds Road Logistics Hub, containing c50,000 square metres of product.

CPIF is presently seeking pre-commitments for spaces between 5000-20,000 sqm, with construction to start in December.

Minto footprint nudges 40ha

The 155 Airds Rd purchase comes almost two years since Charter Hall paid Qube $206m for a 30.6ha industrial estate across the road (story continues below).

Leased to CEVA Logistics, Mazda, Pact Group and PrixCar, the deal for that property, with a Culverston Rd address, reflected a 4.76pc return.

Held equally by CPIF and a Charter Hall managed international partnership, and with buildings occupying a low site area, the asset has significant medium-term development upside, with c112,000 sqm anticipated.

CBRE’s Tom Rourke, Adam Tresidder and Nick Purnell brokered the off-market 155 Airds Rd deal.

Minto is about 38 kilometres south west of Sydney.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of