Perth fund manager Quadrant Investments has picked up a second asset for its Q1 Diversified Income Trust, which launched in May.
The property, a 7916 square metre warehouse on 1.44 hectares covering 25 McDonald Crescent and 12 Dyer Road, Bassendean, is costing $10.65 million.
Leased for five years to The Maker, a brand of Dale Alcock’s ABN, the purchase price reflects a 6.3 per cent yield.
Axia Corporate Property Investments’ Wayne Mitsikas was the agent.
The deal comes six months since Quadrant seeded the fund with a state government backed office at Midland, about six kilometres east of Bassendean.
“The additional acquisition supports the [trust’s] target distribution [and] provides exposure to the strengthening industrial market,” the buyer said of the property.
“The trust will aim to acquire a portfolio of approximately $40m of combined value,” it added (story continues below).
“To do this, it will raise additional equity during the acquiring period”.
Q1 is expected to run seven years – with unitholders then having the option to extend it until 2031.
The manager is forecasting a seven per cent distribution in the first year.
Bassendean is about 11 km north east of Perth.
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