News

NSW Portfolio Acquisition

24 December 2012

Significant transactions enhance quality of Growthpoint's property portfolio.

Growthpoint Properties Australia ("Growthpoint") is pleased to announce it has exchanged contracts to acquire a substantial prime industrial portfolio comprising three adjoining properties located at Erskine Park for $104.7 million.

The total net property income of the property portfolio is estimated at approximately $8.45 million per annum, providing an initial yield of 8.07% (before acquisition costs). The three properties are to be leased to LInfox for a weighted average lease term of 10.0 years and comprise its New South Wales head office.

The vendor is companies associated with Linfox and the selling agent was Colliers International.

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