Kelsian sells bus depot portfolio with leasebacks
Kelsian Group – the country’s largest integrated multi-modal transport provider and tourism operator – has sold three Western Australian bus depots with leaseback, banking $20.38 million.
Sydney based Marc Schwartz’s Blackfox Property Group is outlaying $7.318m – a 5.8 per cent net passing yield – for 320 Gnangara Road, in Perth’s north Landsdale.
On 1.99 hectares with a 1464 square metre warehouse, it is tenanted to Kelsian arm Horizons West for five years with two five year options.
Like all properties forming part of the portfolio, the leases are triple net – meaning the tenant picks up maintenance of a capital nature, statutory and variable outgoings and management fees, according to the marketing agents, Cushman & Wakefield’s Nick Goodridge, Andrew Fife and Ross Palframan.
The rental agreements also carry fixed annual rent guarantees for the initial and option terms, they said.
Expressions of interest campaigns closed December 11.
Landsdale is 25 kilometres from the CBD.
Welshpool warehouse fetches $10.6m
Meanwhile, interests associated with Caratti Gorup is paying $10.6m for 101-111 Ewing St, Welshpool (pictured, top) – 10 km south east of town.
It was also offered with an initial five year lease with two five year options.
The pocket is within a half hour drive of c1.6 million people in c625,000 households, the agents said.
Caratti Group is owned by the Caratti family, Esperance’s biggest farm owner.
Go West backed Bunbury asset
In South Bunbury, 170 km south of Perth, 97 Forrest Avenue traded for $2.4m.
On a 5583 sqm fully fenced block with multiple access points, it contains a 1400 sqm improvement and 42 car parks.
Kelsian offered it with a seven year initial leaseback; its Go West Tours business operates there.
The occupier also has two five year options.
Clarkson Investments is the buyer.
The sales come two weeks since ASX-listed Adelaide based Kelsian confirmed it would sell its Australian based tourism business.
Also this month it listed the Rottnest ferry service in Perth.
Subscribe to our newsletter at the bottom of this page.
