Primewest buys Geelong Gate Lifestyle Centre for $44.25m


The belief, which already has three different properties, has a distribution fee of seven.25 per cent a yr.

The different property within the belief are the totally leased Red Hill Homemaker Centre in Rockhampton, Queensland, a large-format retail centre within the Perth suburb of Cannington and the 12,518sq m neighbourhood centre of Yamanto Shopping Village in Ipswich, Queensland.

Leedwell Property’s Chris Parry brokered the deal.

Separately, Primewest additionally launched its third Industrial Income Trust, eyeing two property in Queensland and South Australia.

The first is a 5530sq m distribution centre on a 1.85-hectare website within the Chevallum Industrial Park on Queensland’s Sunshine Coast.

The second property in South Australia is a leased industrial logistics facility that may be break up into two tenancies or additional redeveloped.

The fund goals to boost $30 million for the 2 properties, with as much as $100 million price of acquisitions in complete. A 7 per cent return is on the playing cards.



Source link Christmas 2019

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