Charter Hall invests again in Minto

Charter Hall last year paid $207 million for a 30.6 hectare Minto investment and development site (outlined) next to its new asset.

Charter Hall has picked up another industrial investment at Sydney’s outer south west Minto.

The 7.69 hectare site, 137-149 Airds Road (outlined, image, top), was offered by the occupant, Toyo Tyres, with a 12 month leaseback.

Based on the agreed price – $75.3 million excluding GST – the deal demonstrates a 3.3 per cent yield.

It also reflects a major windfall for the vendor which outlaid $9m in mid-2002.

Charter Hall’s new site (outlined), west of Bow Bowing Creek.

Colliers’ Gavin Bishop and Sean Thomson were the agents.

The deal comes 15 months since Charter Hall paid $207m for a neighbouring 30.6ha investment – part rented to CEVA Logistics, Dial A Tow, Mazda and PrixCar (this property also came with a permit allowing for another 112,000 square metre of industrial product).

That asset is held in the $8.5 billion Prime Industrial Fund (CPIF), which will also control Airds Rd.

137-149 Airds Road, Minto

Charter Hall has earmarked the Airds Rd block for a 41,000 sqm business park (story continues below).

Warehouses will range in size between 5000-20,000 sqm.

“The site is located in…Minto, where the prospects for rental growth are considered strong due to the land-constrained nature of the surrounding product,” a statement said.

“The site is strategically positioned in close proximity to the Campbelltown CBD and future Badgerys Creek Airport, and offers excellent access to the Hume Motorway, with links to major freight corridors including the M5 Motorway and M7 Motorway,” it added.

“It is also near Charter Hall managed sites including Minto Logistics Hub, Minto Distribution Centre and Cospak at 1 Culverston Rd”.

CPIF fund manager Richard Mason added the property grows the trust’s development pipeline to $2.1b.

“The acquisition enables the fund to strategically develop new, high quality industrial facilities in a strong performing market and provide enhanced returns for CPIF investors,” according to the executive.

“Building on the fund’s strong momentum, the proposed development enables us to continue to improve the quality of CPIF’s $8.5b portfolio, which is the largest pure play industrial and logistics portfolio in Australia”.

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Marc Pallisco

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