glass plant factory bottling
Source: Canva. Visy Glass Plant settled by Centuria Group New Zealand arm.
  • Glass plant acquired for NZ $178M, approximately AU $166M
  • Located in Penrose, Auckland on 752 Great South Road
  • Original proposal made and announced on 22 October 2020, settlement announcement today

ASX listed company Centuria announced its settlement of the Visy Glass Plant to the market this morning.

The proposal was announced to market back in October of last year, the facility was proposed as “… a sale and leaseback, underpinned by a 20-year triple net lease to Visy,”.

Back in October, Centuria noted that the New Zealand arm which would be conducting the acquisition, then-called Augusta Capital but now noted by Centuria as Augusta Penrose Limited, would be the “largest single asset unlisted fund launched by the Centuria Group to date.”

The settled acquisition is worth some NZ$178M, equating to just under A$166M at current exchange rates.

Expanding on a large portfolio that spreads across Australia, Augusta Capital Managing Director Mark Francis said in a statement, “The Visy Glass industrial property presented a rare investment opportunity to the local market…”

The acquisition tips the group over $10B worth of assets, the settlement making it another successful acquisition for 2021, three more were announced earlier this year across NSW and Victoria.

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