This article is from the Australian Property Journal archive
CENTURIA Industrial REIT has secured three leasing deals across 49,000 sqm over three separate properties, taking total leases for the financial year to 28.5% of gross lettable area of its portfolio.
The largest deal was a five-year renewal of 25,035 sqm at 92-98 Cosgrove Road in Sydney’s western suburb of Enfield to K&S Freighters until 2025.
On the south-western fringe, Visy renewed 14,275 sqm at 10 Wiliamson Road in Ingleburn on a three-year deal, while the packaging giant also expanded its tenancy by 5,521 sqm, increasing its overall lease term until 2023.
Meanwhile, in Melbourne’s Somerton, in secured the signature of a tenant across 14,251 sqm at its 24-32 Stanley Drive facility, meaning no downtime following the upcoming expiry of Bluestar Logistics.
Following the deals, as well as the exit of Chevron from its 99 Quill Way property in Perth’s southern suburb of Henderson, the trust’s portfolio occupancy is 94.0%, down from 95.9% in December, and portfolio WALE has increased to 5.0 years.
FY18 expiries total 1.3% of portfolio income and FY19 expiries are down to 8.7%.
Trust manager Ross Lees said CIP had executed a record volume of leasing transactions in FY18.
Australian Property Journal
