Emmett, MA Financial trade $50m industrial park


Having just divested neighbouring Darlinghurst pubs for a $6 million loss on its 2020 outlay for its Taylor Square Fund, MA Financial has bought a near-new Adelaide industrial park for another mandate.

MA Financial paid $22 million for the Courthouse Hotel in late 2020.

The 3.5 hectare asset, 560-570 Grand Junction Road, Regency Park, is setting the fund manager back c$50m.

Emmett Property completed the project, seven kilometres north of Adelaide’s CBD, in two stages in 2021 and last year.

The deal comes a day since we reported MA Financial shelved plans to develop Sydney’s Kinselas and neighbouring Courthouse Hotel – instead selling the venues, with connecting retail investments, to Mark Toma’s Virtical for $61m (story continues below).

Part of the Sydney Tools Regency Park tenancy.

Staged development, value-added

Adelaide based Emmett leased up the Regency Park asset – the biggest structure with 10,000 square metres is occupied by Mainfreight while a smaller warehouse with 7000 sqm is rented to Maxiparts, Southcott and Sydney Tools.

Leedwell’s Jamie Guerra and Andrew Zammit were the leasing and sale agents.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.