Growthpoint JV buys another asset
Growthpoint has added another investment to the Australian Logistics Partnership, majority owned by TPG Angelo Gordon.
The 2.4 hectare Bundamba asset, 42 Hoepner Road (pictured, top), set it back $11.8 million.
The result is well below replacement value, the buyer said.
The asset contains two warehouses with a total 10,244 square metres, completed in 2021.
About 600 sqm is configured with offices.
Some 9100 sqm hardstand offers long term development upside.
Lucky eight
Centuria sold 42 Hoepner Rd off-market on behalf of the Industrial REIT, which developed it in 2022.
The price is a 10 per cent premium to the June, 2025, book value.
CBRE and Knight Frank were the agents.
CG Property is presently offering a portion for sub-lease.
Australia Post and Jaycar are the head tenants.
Bundamba is about 34 kilometres south west of Brisbane’s CBD.
GALP now holds eight properties, all bought in the past 12 months.
In October we reported Growthpoint sold Petrie Terrace’s The Barracks retail based mixed used complex to Aware Super and Navigator Property Group.
Subscribe to our newsletter at the bottom of this page.
