Pipeclay Lawson pays $18.3m for industrial investment
Industrial property investor Pipeclay Lawson has paid $18.3 million for a west Sydney concrete plant leased back to construction chemicals maker Master Builders Solutions for 15 years.
The purchase of 11 Stanton Road, Seven Hills, reflects an initial yield of 5.68 per cent.
The 1.23 hectare site contains three older-style industrial buildings totalling 4077 square metres.
About two-thirds of the land uncovered.
MB Solutions Australia offered with a triple-net lease.
The site is about 1.3 kilometres south of the M2 Motorway and 32km from the CBD.
Previous sale
The property last traded in July 2020 for $8.1m.
BASF was that seller having previously occupied it for its construction-chemicals business which it also sold in 2020, to an affiliate of private equity firm Lone Star.
The operation was rebranded MBCC Group (continues below).
The property had previously sold in February 2011 to Australian Master Builders Company Pty Ltd for $4.35m.
MB Solutions Australia operates as a Master Builders Solutions brand.
Leaseback deal
Master Builders Solutions has used the Stanton Road address for its Australian construction-chemicals operations, including products for concrete admixtures, repair and protection, and infrastructure applications.
The acquisition follows a period of disposals by Pipeclay Lawson, which sold four industrial properties to Hines in 2022 for $211.5m.
In Chullora, South Granville and Emu Plains in Sydney, and Pinkenba in Brisbane, that sale marked Hines’ entry into Australian industrial sector.
Pipeclay Lawson has also sold industrial assets to Centennial, including a 2.1ha property at 141A Boundary Rd, Oxley, for $15.425m in 2021.
CBRE agents John Micallef, Jason Edge and Moshe Greengarten marketed 11 Stanton Rd.
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