Leyton buys ex-Harris Scarfe distribution centre
Leyton Funds has bought an industrial investment in Adelaide’s inner-west.
The 2.75ha industrial holding, 75-83 Hardys Road, Underdale, set it back $29 million ex-GST.
The vendor paid $3.66m for 75-89 Hardys Road, spanning 4.1ha, in 2005.
The asset has previously been occupied by Harris Scarfe as a distribution centre.
75-89 Hardys Road
Leyton is buying 75-83 Hardys Rd on a 6.2 per cent yield pricing each hectare at $10.5m.
The asset manager and developer said the fully leased investment had excellent connectivity and was located within Adelaide’s western city-fringe growth corridor (continues below).
The acquisition is consistent with its strategy of targeting large-scale inner-metropolitan landholdings that provide medium-term income and long-term value creation potential, according to the group.
The deal comes a year since realestatesource.com.au reported Leyton outlaid $27.55m for a Woolworths distribution centre at Regency Park. ISPT was that seller.
Earlier this year Leyton sold a quick service restaurant at Munno Para, including the city’s best performing Nando’s restaurant.
Underdale is about five kilometres from the CBD.
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