Leading fund manager Trilogy Funds has today acquired a modern distribution facility in Darwin’s key logistics corridor, securing a long-leased asset backed by national tyre wholesaler Tyremax for the Trilogy Industrial Property Trust (Trust).
The property was acquired for $6.912 million with the transaction settling today.
The newly constructed facility is located within the Berrimah Industrial Estate, a strategic industrial precinct linking Darwin’s CBD, port and airport and will join the Trust, which targets income-generating industrial assets located in key regional and metropolitan industrial precincts across Australia.
Positioned on a prominent 6,612 sqm corner site at 2 Pak Street, Berrimah, the property comprises a 3,192 sqm warehouse and office facility, featuring high-clearance warehousing with full-height concrete panel construction, multiple roller doors, both at-grade and recessed loading docks and a dedicated hardstand for truck access. The single-level office includes meeting rooms, staff amenities, and parking for 36 vehicles.
The asset was recently purpose-built for Tyremax, one of Australia’s largest independent tyre importers and wholesalers, and the largest of only two wholesalers operating in the Darwin market. It is fully leased on an eight-year term with two additional five-year options and includes fixed annual rental uplifts of 3.5%.
Trilogy Funds Head of Property Laurence Parisi said the acquisition aligned with the Trust’s strategy of targeting well-leased industrial assets – properties occupied by reputable tenants under long-term lease agreements with structured rental reviews – that deliver income security and long‑term growth potential in strategically connected locations.
“This is a high-spec asset that’s been custom-designed for a national tenant with deeply embedded operations in the Northern Territory,” Mr Parisi said.
“Tyremax services a wide footprint of regional and remote customers across Northern Australia, particularly the mining and agribusiness sectors, and this facility supports their long-term distribution capability in a critical catchment.”
“With modern construction, a long lease term with fixed annual increases, and a national tenant operating in an essential services sector with strong logistics needs, this is exactly the kind of asset we seek out to support the Trust’s income and growth objectives.”
Mr Parisi said Darwin’s role as a northern logistics hub and the scarcity of comparable industrial products in the market added further strength to the investment.
“We see continued value in select regional and metro-adjacent locations where infrastructure, tenant demand and functional design come together,” he said.
“Assets like this are hard to replicate and are well-placed to deliver the consistent, income-focused performance our investors expect.”
Mr Parisi said Australia’s industrial property sector continued to offer strong fundamentals, supported by record-low vacancy rates and stable leasing activity, with long-term structural drivers underpinning demand.
“Across our investment pipeline, we’re seeing quality tenants prioritising well-located, highly functional facilities that support logistics performance and future expansion,” he said.
“While overall transaction volumes have moderated from the peaks of recent years, pricing has remained robust for well-leased assets in key locations, reflecting the enduring appeal of industrial property as a resilient, income-producing and inflation-hedged asset class.”
He said the Trust would continue pursuing opportunities aligned with its investment objectives.
“We remain focused on high-quality industrial assets in core sectors such as logistics, wholesale, construction and agribusiness, which are all sectors with long-term demand and strong leasing momentum,” Mr Parisi said.
“The Trust’s disciplined investment and management approach continues to focus on assets that align with our objectives of delivering regular income and long-term capital growth potential for investors.
“We’ll continue to assess new opportunities that enhance the portfolio and respond to evolving market dynamics.”
With the latest acquisition, the award-winning Trust will hold 17 industrial properties across Queensland, New South Wales, Victoria, South Australia, and the Northern Territory. The Trust’s gross asset value is $308 millionas at 31 October 2025.
ENDS
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This media release is issued by Trilogy Funds Management Limited ABN 59 080 383 679 AFSL 261425 (Trilogy Funds) as responsible entity for the Trilogy Industrial Property Trust ARSN 623 096 944. Application for investment can only be made on the application form accompanying the Product Disclosure Statement (PDS) dated 3 March 2025. The PDS and Target Market Determination (TMD) dated 11 September 2023 for the Trilogy Industrial Property Trust ARSN 623 096 944 are available at www.trilogyfunds.com.au. The PDS contains full details of the terms and conditions of investment and should be read in full, particularly the risk section, prior to lodging any application or making a further investment. All investments, including those with Trilogy Funds, involve risk which can lead to no or lower than expected returns, or a loss of part or all of your capital. Trilogy Funds is licensed to provide only general financial product advice about its products and therefore recommends you seek personal advice on the suitability of this investment to your objectives, financial situation and needs from a licensed financial adviser. Investments with Trilogy Funds are not bank deposits and are not government guaranteed. Past performance is no indicator of future performance.
