Trilogy fund quits only Adelaide asset
Trilogy has sold a north Adelaide industrial investment after six years.
The fund manager finished in the black following the disposal of 113-117 Bedford Street, Gillman – for which it paid $14 million new.
The buyer, local syndicator Harmony Property Investments, is outlaying $20m, following an off-market campaign.
Knight Frank’s Max Frohlich and Ryan Mills were the agents.
Near Port Adelaide, Gillman is about 15 kilometres from the CBD.
East coast focus
Forming part of a business park developed by Frasers Property Industrial and CIP Construction, 113-117 Bedford St contains 8894 sqm, split as two tenancies (story continues below).
Tyremax and Plasdene Glass-Pak are the occupiers.
The weighted average lease expiry is 4.64 years.
The 1.52 hectare Industrial 2 zoned site is at the corner of Eastern Parade.
Trilogy held it in the Industrial Property Trust which retains some dozen assets, all others, on the east coast.
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