Emmett, MA Financial trade $50m industrial park
EXCLUSIVE
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.
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).
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.
Subscribe to our newsletter at the bottom of this page.
