This article is from the Australian Property Journal archive
TRILOGY Funds Management can sleep soundly after securing a modern warehouse and office complex in Melbourne’s south east leased to the world’s largest bedding provider, Tempur Sealy International, for more than $10 million.
The acquisition of 118 Colemans Road in Carrum Downs follows its $17.3 million purchase of a Pymble office building as part of a syndicate with Sumner Capital.
The Carrum Downs property comprises a single level office of 657 sqm with attached high clearance warehouse of 4,603 sqm.
Tempur Sealy’s lease brings net annual rent of $552,198, with the sale price representing an initial yield of 5.50%. The sale was handled by Cushman & Wakefield’s Andrew O’Connell and Robert Colaneri.
Trilogy Funds also acquired a 1.64 hectare industrial landholding in Carrara early last year and a 15,300 sqm facility in Brisbane’s Darra, and closed 2020 co-founding a first mortgage constructions loan facility with Sterling Global for a Melbourne residential subdivision.