Mackay assets fetch $51.5m
Two major Mackay properties – one residential, the other industrial – traded for a total $51.5 million this month.
In the priciest deal, SIG Group, formerly known as Sino Integrity Group, is banking $43.7m for a 220 hectare piece of its Ooralea Waters housing estate, at Bakers Creek, south of town.
A 300-lot retirement village and 2050 low density homes are permitted for the parcel, 6 Beachwood Circuit.
“The site is under construction and sits within…a fully-integrated master planned residential community that is located less than nine kilometres from the Mackay CBD,” Tomassi & Co’s Alby Tomassi said.
Another piece of the estate – a land lease community or retirement village block at 55 Temples Lane is also for sale, via RPM Group.
Fortune 500 group backed warehouse
Meanwhile, Ed Bull and James Whitelaw’s DCP has snapped up an 8491 square metre industrial investment at Paget.
For the DCP Mackay Income Fund (DMIF), which recently closed oversubscribed, the asset manager paid $7.8m for 33-41 Central Park Drive.
Leased to Fortune 500 company Genuine Parts Company subsidiary Motion Australia, with 5411 square metres in two warehouses and 2662 sqm of hardstand, it returns net annual rent of c$682,545.
“This transaction underscores the market’s appetite for industrial assets that pair long-term income resilience with tenant security,” Cushman & Wakefield’s Daniel Cullinane, who brokered the deal with Evi Meka and Myles Fredericksen, said.
“Properties underpinned by global covenants in growth corridors like Mackay remain highly sought-after and this result is testament to the strength of both the asset and the regional fundamentals,” he added.
“The Paget precinct, Mackay’s premier industrial hub, benefits from excellent connectivity and a robust economic profile with a local economy valued at $17.98 billion,” according to the executive.
“Investors continue to seek opportunities in such well positioned markets, recognising their stability and growth potential”.
Ms Meka said “Mackay’s ongoing economic expansion and infrastructure investment continue to underpin real estate performance, particularly for well-located industrial assets with long-term tenants”.
DMIF is targeting a 7.5pc annual return paid monthly and a 17.6pc internal rate of return.
The deals come two months since we reported Sydney based over-55s accommodation provider Hampshire Villages Australia, acquired the 8.5ha Andergrove Van Park, north of Mackay.
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