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 Paying More Than $200m For Industrial Property Portfolio

DEXUS Wholesale Property Fund is reportedly paying more than $200 million for a portfolio of industrial assets.

Dexus is understood to be buying the bulk of the Colonial First State Global Asset Management portfolio whcih was listed for sale in June.

The sale includes the Myer distribution complex in Altona, Melbourne, and the DHL facility in Eastern Creek, Sydney according to report.

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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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