Trilogy Funds Management is paying $12.05 million for a Gold Coast industrial investment.
Fully leased to CPG Resources – Mineral Technologies Pty Ltd, a subsidiary of Downer EDI Limited, the 1.64 hectare asset at 11 Elysium Road, Carrara, is trading on a 6.86 per cent yield.
It will sit within the Trilogy Industrial Property Trust.
Colliers International marketing agent Simon Beirne said the campaign, which kicked off last July, attracted strong interest from investors and fund managers.
“Trilogy Funds Management were looking for investments offering strong and secure returns so they moved quickly and put forward the best offer to secure this rare opportunity.”
Colleague Pat Cavanagh said Carrara is a tightly held industrial precinct “which is currently experiencing great demand from construction, transport and logistics operators as well as investors”.
The asset contains freestanding structures including a 1388 sqm double storey office, 599 sqm laboratory and 4306 sqm factory-warehouse.
All up the buildings cover just 27 per cent of the land area.
The asset also includes a two car parks: one within a double storey basement and the other, with 101-bays, at street level.