This article is from the Australian Property Journal archive
EARLY bird private investors have snapped up four industrial properties from the Carlyle Group in just two days – on yields of 7.9% plus.
Marketing agents Colliers International industrial managing director Malcom Tyson sold the four Coates industrial under the hammer.
The first of the 16 industrial properties sold was 429 Patterson Road, Kwinana, Western Australia for $6.66 million with a yield of 7.95%. The 26,305 sqm site includes a building with 2239 sqm of net lettable area.
The second WA property was lot 2071 Harris River road, Collie, which sold for $400,000 with a yield of 8.75%. The 3581 sqm site has 413 sqm of net lettable area.
Tyson said the WA auction held seven properties to a full house of 45 people, five of which passed in but are currently under negotiation with serious parties.
Meanwhile two Newcastle properties in New South Wales were sold, which were 22 Wallarah Road, Musswellbrook, and 55 Mt Thorley Road, Mt Thorley, Singleton.
The Musswellbrook property sold for $530,000 with a yield of 8.01%. The 4756 sqm site includes 523 sqm of net lettable space.
The Singleton property included 262 sqm of net lettable area on a 4303 sqm site. It sold for $415000 and had a yield of 8.43%.
Tyson said the properties were sold above the reserve.
He added that activity is back in the marketplace, especially by the private investment sector, as each property sold so far has been to a private investor.
“The sale of these four properties proves there is plenty of buyer interest out there and we are expecting to sell the remaining 12 properties in the Coates portfolio within the next 10 days,” he concluded.
The remaining 12 properties include:
|
Address |
Size |
Agent |
|
96-98 Sunnyholt Road, Blacktown, NSW |
freehold site of 3142 sqm, building area of 378 sqm |
Paul McGlynn |
|
Lot 52 Main Street, Wallerawang, Lithgow, NSW |
12,309 sqm site, building area approx. 324 sqm |
Matthew Neale |
|
55 Five Islands Road, Port Kembla, NSW |
Vacant possession, site area 708 sqm |
Emil Novak |
|
203-209 Farrelleys Road, Mackay, QLD |
Vacant freehold block 7815 sqm |
Greg Chappell |
|
203-209 Farrelleys Road, Mackay, QLD |
2.18 ha site, and 3231 sqm building area |
Greg Chappell |
|
55-61 Meakin Road, Meadowbrook, QLD |
2.48 ha site, 3007 sqm building area |
Simon Beirne |
|
120-150 South Gippsland Highway, Dandenong South, VIC |
42,170 sqm site, 8144 sqm building area |
Barry Marks |
|
78 Great Eastern Highway, Kalgoorlie, WA |
1.15 ha site, and 1746 sqm building area |
Greg O’Meara |
|
2 Clianthus Street, Kambalda, WA |
6183 sqm site, 668 sqm building area |
Greg O’Meara |
|
Lot 1606 Laver Street, Newman, WA |
3550 sqm site, and 508 sqm building area |
Greg O’Meara |
|
Lot 1411 and 1412 Wilson Road, Port Hedland, WA |
7239 sqm site, and 1663 sqm building area |
Greg O’Meara |
|
Lot 28, Boondaroo Road, Tom Price, WA |
3516 sqm site, and 402 sqm building area |
Greg O’Meara |
Australian Property Journal
