Leyton swoops on south Adelaide investment
Leyton Funds has snapped up another asset – this time at Melrose Park, in its hometown of Adelaide.
The two level office/warehouse at 32 Bennet Avenue, occupied by Seasonair and Sheppcom, is setting it back $5.3 million – a 5.05 per cent net passing yield.
On 3036 square metres, configured as three titled lots, the property has the flexibility to be sold down-longer term.
Alternatively, the 1663 square metre building could be extended.
Cushman & Wakefield’s Hamish Crouch and Jay Nash brokered the deal immediately following the May 1 close of an expressions of interest campaign.
1, 2 and 3, 32 Bennet Street
Seasonair is on the longest rental agreement at 32 Bennet St – expiring in 2030, then with options.
Sheppcomm is committed until 2027 but also has options.
The property has large areas for loading and parking.
All units have LED lighting, while 1 and 2 have solar.
The deal comes a week since we reported Leyton was buying Woolworths’ Queensland headquarters, for a single asset fund.
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