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.
Minto is about 38 kilometres south west of Sydney.
Subscribe to our newsletter at the bottom of this page.