EG sheds two Sydney industrial investments
EG Group has settled on the sale two major Sydney industrial investments from the Australian Core Enhanced (ACE) portfolio.
In the biggest deal, Irongate is paying $62 million for 5 Williamson Road, Ingleburn (pictured, top).
On 4.1 hectares, containing three buildings with a total of 18,914 square metres, the deal reflects a low 3.3 per cent yield.
EG paid billionaire businessman Bob Ell $38.2m in 2020 – a year after it launched ACE.
Ingleburn is 50 kilometres west of the CBD.
Colliers’ Gavin Bishop, Sean Thomson, Trent Gallagher and Angus Urquhart with JLL’s Ben Hegerty, Joel Scully and Jack Kelliher were the agents.
Matraville asset fetches $39m
Meanwhile, a Matraville asset, 81-87 Beachamp Road, found favour, sold for $39.1m (story continues below).
EG paid $33m for this one in 2021.
The buyer is Centennial.
The result again reflects a 3.3 per cent yield; the improvement contains a 6240 square metre office/warehouse, on a 9600 sqm block.
Matraville is also much closer to town – 13 km south of the CBD.
The same agents handled the deal.
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