This article is from the Australian Property Journal archive
ASX-listed Centuria Industrial REIT (CIP) has offloaded a 3.25-hectare southern Perth warehouse site for $10.5 million, at a 16.7% premium to book value as industrial assets remain in high demand.
99 Quill Way was sold with vacant possession and has two warehouses of a combined 16,419 sqm. It is directly opposite the Common Use Facility within the Australian Marine Complex, and has industrial – special use 2 zoning.
CIP will initially use proceeds from the sale to repay debt.
Settlement is expected in December.
Marketing agents were Geoff Fraser and Jarrad Grierson of CBRE, with Matthew Hopkins of Savills.
CIP in recent weeks completed a $300 million fully underwritten institutional placement as it expanded its portfolio to 75 properties worth $3.5 billion. The boost came with a $351 million splurge on eight infill assets late last month – supported by the placement – including a $200.2 million distribution centre in Sydney’s Fairfield.
