Colonial buys Valad Industrial Assets
Colonial First State will pick up the Melbourne International Airfreight Centre and a Brisbane industrial site for $42.9 million, almost double the $22.5 million Valad paid for the properties two years ago. It will put the assets into its Direct Property Investment fund, which is managed b Colonial First State Global Asset Management.
A Valad spokesperson told a local paper the timing of the sale was opportunistic, citing strong interest from prospective buyers encouraged them to sell some of its assets.
