Tuesday, 11 October 2022

Industrial real estate with value-add returns.

333 Industrial, the multidisciplinary property advisory and investment arm of KordaMentha, has acquired six warehouse units in-one-line in the outer-east Melbourne suburb of Bayswater.

The property at 1-6/843 Mountain Highway, Bayswater, provides for six separately strata titled units with a lettable area of 2,512 sq. m, WALE of 1.8 years and a passing income of circa $294,000.

Industrial has been a recent focus, with the acquisition of a Brisbane property in December 2021 for $23.2 million and divestment of its Laverton North cold storage property at the same time. The industrial focus has been centred around value-add returns, with the Laverton North investment providing a 40.3% net IRR to investors.

Tom Korda, Director, Asset and Transaction Management said, “We were attracted to the investment due to the great location, main road frontage, replacement cost of the units and the fact they are already separately strata titled, offering greater flexibility and risk-adjusted returns for our investors.”

The property was sold on market by Knight Frank’s Stuart Gill and Steven Salopek.


 

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