Stockland add to North Sydney Development site

November 8, 2019

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Dexus in box seat for Charter Hall Industrial Portfolio

July 19, 2019


Dexus are in the box seat to acquire a portfolio of 5 industrial assets from Charter Hall for circa $230m. The combined assets cover 23ha of land and generates over $15m of net income, suggesting an average yield of circa 6.5%, but with a likely individual range of 6% - 9%.


JLL marketed the portfolio, dubbed the "southern cross portfolio", following a decision by Charter Hall to raise capital from asset sales to part fund future development activities including 18 buildings this financial year worth about $608m amongst a $2bn pipleine.


Dexus will likely house the assets in an off balance sheet industrial fund, consistent with its other industrial asset holdings.


The main asset in the portfolio is a 5ha parcel of land in Chullora which contains a 33,739sqm warehouse leased to Volkswagen Group Australia on a 5 year lease. CMA estimate this asset is likely to be priced in excess of $105m on a 6% yield.


The portfolio includes two Western Australian assets at 123 Kewdale Rd and 103 Welshpool Rd; one asset in South Australia at 46 Grand Trunkway Gillman and a final asset in the Northern Territory at 16 Dawson Street East Arm. 


Location Plan:






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