Investors in the Acacia Ridge Industrial Trust will receive a “substantial” return on their initial investment following the sale of 67 Bellrick Street, Acacia Ridge, Brisbane, the sole property if the Trust.
David Hogan, Trilogy’s Head of Property Assets, said the warehouse, which was independently valued at $18 million last year, had been sold to a Sydney-based private investor for a price in excess of $22 million.
“The property in question is a warehousing facility we bought in 2016,” said David.
“The Acacia Ridge Industrial Trust is a single-asset, closed-end Trust that expires in 2021, and in the four-odd years that we managed it, our investors have received a distribution yield of 7.60% per annum*.
“With this sale, they will now also receive a substantial increase over and above their initial capital investment.
“This sale extends Trilogy’s great track record of successfully selecting and acquiring properties that have provided our investors with access to capital stability, monthly income and the opportunity for capital growth.”
Acacia Ridge, south of Brisbane’s CBD, is recognised as a premium location for warehousing because of its strategic positioning for transport and logistics distribution, with connections to arterial roads such as Beaudesert Rd and the Logan Motorway.
The property has the additional benefit of being situated adjacent to the Queensland Rail Marshall Yards, with the potential to recommission the existing rail spur.
It has a total lettable area of approximately 10,700 square metres and is 100 per cent leased. The primary tenant, Bluestar Global Logistics, occupies over 90% of the property on a lease expiring in 2025. There are also two small tenancies to Autism Queensland and Sales Accent.
The selling agents were Graham Norris and Dan Costello of K2 Private.
The purchaser had previously missed opportunities to buy the property when it was on the market and was pleased to have finally secured it, said K2’s Graham.
“This is the largest settled industrial transaction for the Brisbane market this quarter and a great result for Trilogy and their investors too,’’ he said.
*Net rate paid to investors calculated daily and paid monthly in arrears during the life of the Trust and are net of management fees and costs. This article has been prepared by Trilogy Funds Management Limited (Trilogy) ABN 59 080 383 679 AFSL 261425 as Responsible Entity of the Acacia Ridge Industrial Trust. This advice is general advice only and does not consider your objectives, financial situation or needs. You should consider whether the advice is suitable for you and your personal circumstances and we recommend that you seek personal financial product advice on your objectives, financial situation or needs and obtain and read the relevant product disclosure statement before making any investment decision.