Redhill Partners acquires Brendale industrial investment
Redhill Partners is paying $9.5 million for a Brendale industrial investment.
The 4260 square metre facility is leased until 2026 to Domino’s subsidiary IPG Marketing Solutions; with options the occupier can stay until 2051.
It occupies a 6758 sqm plot at 25 Strathwyn Street.
The deal, negotiated by JLL’s Nick Bandiera and Gary Hyland, reflects a 6.35 per cent net yield.
Brendale is about 21 kilometres north of Brisbane (story continues below).
Last year in the suburb, Investec Australia Property Fund paid Felton Property Group $15.6m on a funds through basis for a 2.1 hectare distribution centre pre-committed to 4WD SupaCentre.
Redhill meanwhile, six months ago, struck a $67.8m deal with Stamford Land Corporation to buy the ex-Chevron headquarters at 905-919 Hay St, in the Perth CBD.
In late 2018, with New York based Apollo Asset Management, the group outlaid $100.5m for 28 The Esplanade – also in the Western Australian capital.
