This article is from the Australian Property Journal archive
DEXUS Property Group has bought an industrial estate in Silverwater NSW to compliment its adjacent property.
Dexus has bought the Centrewest Industrial Estate at 108-120 Silverwater Road for $24.43 million, with an initial passing yield of 9% (9.1% after costs) and a weighted average lease expiry by income of 3.8 years.
Centrewest is located adjacent to an existing estate at Egerton Street.
The property has a total gross lettable area of 17,838 sqm with large units fronting Silverwater Road and smaller industrial units located at the rear of the estate.
Dexus’ head of industrial Andrew Whiteside said the acquisition further diversifies the group’s industrial portfolio.
“This property acquisition allows us to increase our presence in the inner west Sydney market and given the location, adjacent to our existing holding at Egerton Street, enables us to reposition both properties in the future to create a combined estate of over $64 million with a WALE of over 4 years and a total GLA of 47,164 sqm,” he added.
Australian Property Journal
