Cold storage portfolio collects $51m

The Carole Park asset is leased to Artisan Food Co Australia.

PTG Land has banked $51 million from a portfolio of four fully-leased Brisbane cold storage investments.

The deal includes two Morningside assets which both last traded in 2017:

  • 17 Breene Place, tenanted to Priestley’s Gourmet Delights, and which last sold for $9.2m, and
  • 164 Riverside Pl, rented to Visco Foods – and which previously transacted for $4.58m.

Another property – 69 Alexandra Pl, Murarrie (pictured, top) – is also part of the portfolio.

On 5683 sqm, it last exchanged three years ago for $7.25m.

Lago Cold Stores, which was this month purchased for $106.4m by Americold, is the tenant.

The fourth asset, 60 Ron Boyle Crescent, Carole Park, is leased to Artisan Food Co Australia (story continues below).

All up, the properties contain 13,076 square metres of area and occupy 2.66 hectares of land.

The portfolio price reflects a blended 5.16 per cent yield.

CBRE’s Jack Pershouse and Ben Lyons were the agents.

More to come.

The Morningside assets at 17 Breene Place (left) and 164 Riverside Pl.

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Marc Pallisco

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