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Beacon Lighting in Sale & leaseback to Charter Hall


Beacon Lighting have sold their warehouse in Parkinson QLD for $28 million to the Charter Hall Direct Industrial Fund No 4.

The warehouse comprises a total GLA of 13,096 sqm on a site area of 36,440 sqm (36% site coverage).

Originaly built in 2014 for a Masters' store, Beacon Lighting will now stay on as a tenant on a 8 year lease commencing in December 2019, and three five year renewal options. Based on the purchase, price the acquisition shows a 5.4% yield.

Charter Hall Direct CEO, Mr Steven Bennett, said “The acquisition of 58 Precinct Street, Parkinson is consistent with DIF4’s strategy of acquiring well located, quality industrial and logistics properties with long lease terms, that are located close to major transport infrastructure.”

The property is located at the front of the Sitelink Business Park in the industrial precinct of Parkinson, approximately 20 kilometres south of the Brisbane CBD. The property is situated just minutes from the Logan Motorway, Beaudesert Road and Mt Lindesay Highway intersection, providing direct links from Brisbane’s Western Corridor across to the M1 and Gateway Motorway. The location enables impeccable access to the Gateway Motorway, Brisbane CBD, Port of Brisbane, Brisbane Airport and the Gold Coast. These transport links are critical for Beacon Lighting given the Parkinson warehouse services NSW, metropolitan Brisbane and regional QLD up to Mackay.

Following the acquisition the Charter Hall Direct Industrial Fund No.4 will comprise 11 industrial and logistics properties, with a WALE of 10.2 years, and benefits from 99% occupancy.

Gross assets of DIF4 now total almost $437 million and the Fund is expected to grow to over $500 million as additional equity is raised and deployed into accretive assets for the Fund. DIF4 is currently open for investment from retail, HNW and SMSF investors.

“The Fund is benefiting from strong equity inflows as investors are attracted to the quality of the industrial portfolio, the Fund’s current distribution yield of 6.2% pa and the quarterly distributions paid to investors” said Mr Bennett.

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