QLD Industrial Sale
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QLD Industrial Sale
Charter Hall’s Direct Industrial Fund No.2 (DIF2) has bought an industrial asset in Rockhampton’s Gracemere Industry Park for $12.5 million in an off market transaction.
The property is to be developed by Gibb Group which will construct a 6,994 sqm purpose-built logistics facility for road transport provider Toll NQX which has signed a 12 year lease. Construction is commencing in November 2013 with completion for April 2014.
Charter Hall’s head of direct property, Richard Stacker, said the acquisition marked the fifth asset to be added to DIF2’s industrial portfolio with a sixth asset acquisition close to settlement.
“We have received strong investor interest in DIF2, with the fund recently closing oversubscribed a year ahead of its target closing date, and have the capacity to grow this portfolio to approximately $200m,” said Mr Stacker.
Price – $12.5m
Yield – 8.5 per cent
Buyer – Charter Hall Direct Industrial Fund No.2
Seller – Gibb Group
Area – 2.743 (land) 69,994 sqm (improvements)
