Singapore giant buys maiden Perth industrial investments
Singapore-listed industrial landlord AIMS APAC REIT has made its first Western Australian acquisition – outlaying $42.7 million.
The REIT’s Australian subsidiary has entered into a contract with BGC for the adjoining properties at 398 Bushmead Road and 286 Stirling Crescent, Hazelmere.
The 9.2 hectare holding is leased to Swan Materials.
It includes a concrete and asphalt manufacturing plant, transport workshop and materials laboratory – parts of the construction materials businesses formerly owned by BGC, also known as the Buckeridge Group of Companies.
Hazelmere industrial buy
The Hazelmere properties comprise about 14,725 square metres of improvements.
Swan is into a 10-year lease (continues below).
The acquisition reflects a net property income yield of about 5.3 per cent, according to AIMS APAC REIT.
CBRE’s Chris O’Brien, Andrew Bell, Jarrad Grierson and Josh Deluca were the agents.
BGC had retained ownership while its construction materials businesses transitioned to Swan Materials, which now operates across concrete, asphalt, transport, quarrying and materials testing.
Hazelmere is about 17 kilometres east of Perth’s CBD.
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