GPT Group in massive Sydney logistics property push


Five Sydney sites worth $212 million snapped up by investment trust

GPT Group in massive Sydney logistics property push
GPT has previously invested in Sydney’s Erskine Park

 

GPT Group has announced a huge logistics portfolio expansion with the purchase of five prime logistics properties for a total of $212 million, with settlements expected to be completed by early next month.

Though tight lipped about location specifics, it notes the assets have a total lettable area of 88,200 square metres, a combined weighted average lease expiry (WALE) of 8.6 years, and initial passing yield of 5.4 per cent.


Read about GPT’s Eastern Creek investment, here


GPT also reports a 26,000sqm logistics development at Truganina in Melbourne’s west and has secured a heads of agreement for a 10-year lease over a new 20,500sqm logistics development at Berrinba, Brisbane.

"These acquisitions and developments are consistent with GPT’s strategy to grow our position in the Logistics sector," GPT chief executive officer Bob Johnston says.

"The assets are all well located with good access to transport links and will benefit from ongoing demand and constrained supply."

 

You can also follow our updates by joining our LinkedIn group or liking us on Facebook