DWPF Pays CDPI $231 Million For Industrial Portfolio

DEXUS Wholesale Property Fund has paid Colonial Direct Property Investment Fund $231 million for a portfolio of 13 industrial portfolios on Australia’s east coast.

The purchase includes eight properties in Sydney, three in Melbourne and two in Brisbane. Some are income producing investments, while others are development sites.

After the acquisition, DWPF’s portfolio allocation will be 57 per cent retail, 32 per cent office and 11 per cent industrial – though the plan is to boost the industrial allocation.

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QLS Pays $9.15 Million for Dandenong Asset, Also Leases Factory

THIRD-party logistics sector group QLS has paid $9.15 million for two adjoining industrial facilities in central Dandenong, a major commercial hub once marketed as Melbourne’s “second city”.

QLS has purchased a 3.2 hectare site at Kitchen Road, which includes two buildings totalling 15,000 square metres.

At the moment, it will play landlord for the two assets which are leased, but the group will eventually move into the buildings.

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Salta to Reap About $32 Million From Coles Distribution Centre, Altona North

SALTA Properties is continuing to dispose of major properties, this time putting a massive 44,000 square metre Coles distribution facility up for sale.
The two year old Altona North building is leased to Coles until 2017, and is expected to sell for about $32 million, reflecting a 8.75 per cent yield, based on the building’s current annual rental income of $2.8 million.

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