Westbridge buys, sells industrial assets
Perth based Westbridge Funds Management has quietly traded in two industrial deals.
In the priciest, the group, on behalf of the Industrial Total Return Fund, has sold a 1.4 hectare local investment for $13.65 million.
The manager outlaid $10m for 133 Beringarra Avenue, Malaga (pictured, top), in mid-2022.
Developed in 2009, with 7297 square metres of improvements, it is leased to Hobson Engineering.
The incoming owner intends to occupy eventually.
Cushman & Wakefield’s Ross Palframan brokered the disposal.
The deal comes four months since Westbridge sold two more Perth assets from WITRF – 3 and 5 Marchesi St, Kewdale, to occupier Metroll for $10.8m (story continues below).
Malaga is about 11 kilometres north of town.
Westbridge buys
Meanwhile, Westbridge is paying $10.2 million for a 1.15 hectare investment in Brisbane’s outer south Crestmead.
With 3452 sqm of improvements and significant hardstand, 122-128 Magnesium Drive was offered by the occupier, Mirage Doors, a subsidiary of Assa Abloy Group, which paid $5.28m in 2018.
CG Property Group’s Dan Munnich and Mark Gilbride were the agents.
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