RF Corval scoops up west Sydney warehouse
EXCLUSIVE
RF Corval has bought its third major industrial investment in two months.
At Villawood, it is also the second New South Wales asset the fund manager has bought since June.
The 1.97 hectare IN1 Industrial General zoned holding with a vacant 10,726 square metre office/warehouse at 33 Shaddock Avenue set it back $33.88 million.
With five gantry cranes – able to accommodate 16 tonnes – the shed, accessed from eight roller doors, has a nine metre clearance.
There is also a large hardstand area suitable for B-double trucks.
Savills’ Ray Trimboli was the agent.
Villawood is about 26 kilometres west of Sydney’s CBD (story continues below).
Another shed
RF holds a diversified portfolio in various funds, including the Infill Industrial Trust, launched in 2021.
Earlier this month we reported the group outlaid $11.5m – a 6.43 per cent yield – for a Richlands, Brisbane, warehouse investment leased to DGL Group while three weeks ago it acquired a Vermont, Melbourne, property.
Last year it acquired sheds in Adelaide’s Wingfield and Oakleigh, again in Melbourne, outlaying a total $34.5m.
Six weeks ago RF Corval purchased Newcastle offices from Dexus for $50m – about 10pc than their June, 2023, book value.
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