Modern warehouse (not Arndell Park specifically). Photo – Canva.
  • Centuria has made its 13th acquisition this financial year, totalling $784M so far
  • CIP has acquired a distribution centre in Arndell Park, Central Western Sydney, for $27M
  • The purchase was secured on a 2.2-year Weighted Average Lease Expiry (WALE)

The largest ‘pure-play’ ASX-listed real estate investment trust (REIT) Centuria Industrial (ASX: CIP) has announced another acquisition, with the purchase of a distribution centre in the tightly held infill industrial market of Arndell Park, in Central Western Sydney, for $27 million.

In advertising literature, the site is described as having “excellent access to Sydney’s motorway network, … ideal for a range of warehouse, distribution and manufacturing uses.”

This acquisition takes Centuria’s buying activities to $784 million in the current financial year 2021, across 13 assets.

“The acquisition is CIP’s second strategic, infill Sydney industrial transaction within seven weeks, having recently completed on a Bella Vista warehouse,” said Jesse Curtis, Centuria Industrial Fund Manager.

“The high-demand Arndell Park market is characteristic of limited warehouse stock and benefits from its infill location, close to major infrastructure. It increases CIP’s exposure to Sydney’s central-western industrial market and supports the REIT’s strategy of securing high-quality industrial assets within infill markets.”

Jesse Curtis, Centuria Industrial Fund Manager

The acquisition will be funded using existing debt and the settlement is expected to complete in September this year.

The purchase was secured on a 2.2-year Weighted Average Lease Expiry (WALE), fully let to civil and construction infrastructure supplier JaybroPty Ltd.

Located at 29 Penelope Crescent, Arndell Park, the property includes 9,400sqm of generic industrial space within a 1.9-hectare site (49% site coverage). It is in close proximity to CIP’s existing 8 Penelope Crescent warehouse.

Centuria Industrial is included in the S&P/ASX 200 Index, and has a portfolio of industrial assets situated in metropolitan locations around Australia.

You May Also Like

“Sydney setting the pace”: CBD office rents march higher

Cushman & Wakefield’s quarterly Office Marketbeat reveals 2.9% quarter-on-quarter uplift in Sydney

Canberra office market shows impressive resilience and growth

The market is underpinned by low vacancy, large developments in the pipeline and strong rental growth

Accenture and Lendlease to expand data insights platform

The platform which uses AI and virtual reality will be expanded to increase digital and in-store visits.

Demand for life science assets on the rise in Australia

Australians are getting older and this is contributing to the increase in demand for life science assets across Australia

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.