Downer EDI Reaps $16.4 Million From Sale of Australian Portfolio

ENGINEERING firm Downer EDI has sold seven industrial sites across Australia, reaping a total of about $16.4 million.

In the biggest sale, a Somerton laboratory with a 15-year leaseback to Downer, sold for $7.6 million to a private investor. The sale price equates to a 9.3 per cent yield.

In Geelong an engineering plant sold for $2.23 million on a 7.4 per cent yield.

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Dexus Buys Ingleburn Factory, Sydney, For $23.5 Million

DEXUS Wholesale Property Fund has paid $23.5 million for a major warehouse in Sydney’s Ingleburn. The 25,807 square metre Williamsons Road warehouse is leased to Colgate Palmolive and sold on a 10.3 per cent passing yield. Colgate uses the facility as a storage and distribution centre, according to the AFR which reported the off-market sale.

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