This article is from the Australian Property Journal archive
THE Westpac Diversified Property Fund has bough its property in Victoria.
WDPF has bought an industrial property in Port Melbourne for $32.4 million.
WDPF’s fund manager John Bucknell said the Port Melbourne acquisition was consistent with the strategy of growing WDPF into selected growth markets.
The building is located in a growth area close to the Melbourne CBD at 704-744 Lorimer Street, Port Melbourne. The building is 100% income producing, with a long weighted average lease expiry of 8.4 years.
WDPF is a $336 million open ended, unlisted fund with 11 assets in five states, diversified across industrial, office and retail sectors.
Michael McClusky of Lemon Baxter was the selling agent.
Australian Property Journal
