Off-Market Portfolio Acquisition: 14 Mort Street, Canberra and Ingham’s Burton, Adelaide
Realmont is pleased to announce the off-market acquisition of a portfolio of office and logistics assets in Canberra and Adelaide for approximately $116 million. Realmont facilitated the transactions on behalf of a separate account capital partner making their maiden investments into Australia.
Australia Place, 14 Mort Street, Canberra
Australia Place is a long WALE commercial A-grade office building constructed in 1996 with subsequent refurbishment (2013/14) including ground floor foyer, amenities and lifts.
The property is centrally located on the eastern side of Mort Street between Cooyong Street and Bunda Street within the Canberra CBD. The building is in close proximity to the new Alinga Street light rail station, City bus interchange and Canberra Centre / Bunda Street retail precinct.
The asset enjoys a 5.0 star NABERS energy rating, a WALE of 6.5 years and is fully leased to the Commonwealth of Australia.
Ingham’s Burton, Port Wakefield Road, Adelaide
Inghams Burton is a substantial production, processing and distribution facility which provides critical processing and logistics services to Ingham’s South Australian and Western Australia operations.
Located approximately 28 kilometres north of the Adelaide CBD, fronting Port Wakefield Road the property enjoys high clearance and cold room, modern office and workshop facilities and expansive hardstand areas. The purpose-built facility is used as a slaughterhouse for processing of poultry, cold storage, distribution, administration and other associated uses.
The investment is further de-risked by a 16.1 year triple net lease to ASX listed Ingham’s Group.