Perth asset manager buys maiden Mackay sites
Baron Vanilla has bought maiden Mackay properties outlaying a total $35 million.
The biggest, 25 John Vella Drive, Paget, set it back $24 million.
Leased until 2030 to Team Global Express – the new name for Toll Global Express – it covers 3.65 hectares with three buildings containing 8407 square metres covering 23 per cent of the block.
Rents are fixed to rise 3.5pc.
There is one rental option, for five years.
The second property, 56 Maggiolo Drive, Paget (pictured, top), cost $11m.
Danish engineering company FL Smidth & Co is the tenant, on a lease expiring 2032 with a five year option.
An amalgamation of two allotments, it spreads 9538 sqm with significant hardstand.
Two workshops and an office, all up containing 3218 sqm, cover a third.
Deniz Mete of Knight Frank Mackay, with Peter Melling of Melling Commercial were the agents.
Perth based Baron Vanilla will hold the assets in the BV Industrial Trust 3, now calling on investors for just over $20m.
Sentinel Property Group was the seller.
Subscribe to our newsletter at the bottom of this page.
