Jesse Curtis, CIP Fund Manager. Image – Centuria.
  • Three new acquisitions made for a total of $86.1 million
  • Weighted Average Lease Expiry of 5.8 years
  • Combined initial yield of 5%

Only last week, Centuria Industrial REIT (ASX: CIP) announced that portfolio valuations had increased.

Then, the 61 property portfolio was worth some $2.9 billion, CIP has since acquired three more assets.

110 Northcorp Blvd BROADMEADOW
110 Northcorp Blvd in Broadmeadows is one of three recent acquisitions made by Centuria Industrial REIT. The property was purchased for $37.1 million. Image – Centuria Industrial REIT.

With a total purchase price of $86.1 million, two properties are located in Victoria and one in New South Wales.

“The three eastern seaboard industrial assets are within core Sydney and Melbourne industrial precincts where CIP has existing assets,”

Centuria Industrial REIT

40 Scanlon Drive in Epping is currently tenanted by Grace Australia and Gruma Oceania, Gruma also known as Mission Foods.

40 Scanlon Drive, EPPING
Centuria recently purchased 40 Scanlon Drive in Epping for $15.5 million. Image – Centuria.

The Broadmeadows site is completely leased to Rollease Acmeda.

Latest Centuria Industrial REIT acquisitions

Image – Centuria Industrial REIT.

Jesse Curtis, CIP Fund Manager, said the latest acquisitions were made off-market, and grew the company’s exposure to “highly-sought after and tightly held infill industrial markets of Melbourne and Sydney”

“The portfolio provides a rare mixture of short WALE assets, providing the opportunity to add-value and take advantage of low vacancy rates through strategic leasing, while also adding a core long WALE asset.”

Jesse Curtis, CIP Fund Manager

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