Syndicate snares Adelaide chemical factory
A heavy industrial property with a hard to replicate chemical supply licence, in Adelaide’s north Gillman, has traded for $15.55 million.
The result for the ChemSupply factory on 2.74 hectares at 38-50 Bedford Road reflects a 6.4 per cent initial passing yield.
Melbourne syndicator Peak Equities is the buyer; it holds other Adelaide assets.
The vendor, a local private investor, was represented by Pirie Property Group.
Also today we are reporting Harmony Property Investments sold a heavy industrial Melbourne factory – tenanted for 10 years to a tyre recycler – for $13.55m.
ChemSupply Gillman
The Gillman property contains 13,904 square metres in numerous buildings.
The site, with 439 metres street frontage, contains 50 car parks.
ChemSupply, which has occupied long-term, has eight years left to run on a lease with fixed annual rises the greater of CPI or three per cent.
It also has two eight year options – a variation of the terms when the asset was listed March, for three options each of five years.
Jordan Kies and David Reid brokered the deal.
ChemSupply was established in 1989.
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