unisuper buys 50 per cent stake in industrial property portfolio
UniSuper purchased a 50 per cent stake in a 20 asset industrial property portfolio. Image: Supplied.
  • UniSuper will invest alongside existing co-owners Dexus and Blackstone in this venture.
  • The portfolio was acquired from the National Pension Service of Korea.
  • The deal was worth over $500 million.

The $120 billion superannuation fund has acquired a 50% interest in a 20 industrial property portfolio, with assets across Sydney and Melbourne; twelve properties from the portfolio are located in the Quarry Industrial Estate in Greater Western Sydney and the remainder is in Truganina, Melbourne.

Tenants of the industrial properties include Coles, Toll, Northline, Roche, Blackwoods, Symbion, and UPS.

The $500 million deal was negotiated by Richmond Bridge, on behalf of UniSuper, while Cushman & Wakefield represented the vendor.

Quarry Industrial Estate in Greater Western Sydney
The Quarry Industrial Estate in Greater Western Sydney is part of the 20 asset portfolio. Image: Supplied.

Senior property manager at UniSuper, Nick Stephens, said the superannuation fund was delighted to acquire the high-quality portfolio.

“The investment adds to our $7.3 billion unlisted property portfolio,” said Stephens.

“The transaction highlights UniSuper’s ability to transact swiftly without the need for debt funding or regulatory approvals.

“As genuine long-term investors, we continue to look for unique opportunities that help our members grow their retirement savings.”

6 Bellevue Circuit, Pemulwuy
Image: Supplied.

It was a rare opportunity, said Richmond Bridge’s chief investment officer, Peter Wylie.

“We are pleased to have successfully concluded this transaction, capitalizing on a market with fewer buyers, which allowed us to secure these high-quality assets at an attractive entry price,” said Wylie.

“When presented with the opportunity to assess this portfolio for UniSuper, we did not hesitate, recognizing the rarity of such offerings in the market.

“We are immensely grateful to the UniSuper team for their collaboration, enabling us to accomplish an extensive amount of work within a short timeframe.”

2 Bellevue Circuit, Pemulwuy
Image: Supplied.

Investors continue to look towards de-risking portfolios, with the flight-to-quality trend remaining strong.

“We are seeing capital being very strategic and heavily focussed on premium grade assets as opposed to taking on long-dated risk,” said Cushman & Wakefield’s international director head of industrial and logistics, Tony Iuliano.

“This global process identified multiple participants and has now set the benchmark to price discovery in the most sought-after asset class globally and in particular within Australia”.



You May Also Like

Work from home is here to stay, and Australia’s secondary offices are at a turning point

Secondary office assets face challenges with poor uptake and declining values, especially in B and C-grade properties.

Why Australia needs more industrial assets to boost productivity and growth

A new report reveals that Australia’s industrial assets handle over $1.2 trillion worth of products annually.

Sydney’s retail sector continues to improve, with one area boasting zero vacancy

Vacancy rates for Sydney’s prime retail core have dropped to 8.3%, with the one area recording vacancy rates of zero.

Construction titan Beehive Homes finds its new home in a prime Williamstown North warehouse

NSL Property Group facilitated the $650,000 deal, highlighting the property’s prime location and industrial versatility.

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Housing crisis survival guide: How to buy your first Australian property

Three property experts give the low down on how to nab a home in this tough housing market.

Strata properties as investments: All you need to know about investing in a Perth unit

As the cost of renting approaches the cost of a mortgage, more people are investing in units to escape the rental trap.