Centuria Capital Secures $500M US Investment for Australian Industrial Assets
Centuria Capital Group, a leading Australian investment firm, has successfully secured a massive $500 million investment mandate from a prominent US private investment firm, marking a significant milestone in the company's growth trajectory. The new institutional investment mandate, dubbed the Last Mile Logistics Partnership (LMLP), will primarily focus on acquiring assets within supply-constrained infill industrial markets across Australia.
The LMLP partnership is initiated with a $76 million three-asset portfolio, strategically located within key urban industrial precincts in Melbourne. All assets were transacted off-market and settled on 8 September 2023. This marks the second industrial institutional capital partnership secured by Centuria in the last 12 months, reinforcing the company's strong position in the Australian property market.
For those looking to invest in property in Australia, this recent move by Centuria Capital Group showcases the potential opportunities within the industrial sector. The firm's strategic focus on infill industrial markets highlights the growing demand for these assets, providing a compelling case for potential investors.
Meanwhile, in other property news, South Australian developer Citify has lodged a development application for an exciting $150 million mixed-use precinct. This project, known as The Buckingham, is located just three kilometres from the Adelaide CBD and promises to deliver housing, retail, and office spaces across a 6,200 square metre site.
In Goodna, a 1.96-hectare development site at 124-128 Alice Street was recently sold for $2.5 million. The site was purchased by Northside Christian College for future expansion plans. This sale underlines the strong demand for development sites in southeast Queensland.
In Melbourne's inner city suburb of Spotswood, a completed built-to-rent (BTR) development called Union Quarter is being offered to the market. The mixed-use BTR development comprises 332 apartments with supplementary retail including a full-line Woolworths, Dan Murphy’s, a medical centre, a chemist, specialty shops, a restaurant, and extensive basement parking.
For those considering to buy their first home or an investment property, the Union Quarter presents a unique opportunity. With a chronic undersupply of rental accommodation in Australia, investor appetite for build-to-rent projects is strong. The completed development eliminates any risks for incoming purchasers in a market where construction costs are escalating and feasibility metrics are tightening for many BTR projects.
Finally, in St Peters, Sydney, a unique offering featuring a period cottage and freestanding warehouse has come to market. Located at 11-17 Hutchinson Street, the 824.76 sqm property is expected to fetch between $5 million to $10 million. This unique property offering showcases the diverse opportunities available to those looking to invest in the Australian property market.
In conclusion, the recent activities in the Australian property market underscore the diverse opportunities available for those looking to buy an investment property or their first home. From industrial assets to residential and commercial properties, the market offers a wide range of options for investors and first-time homebuyers alike. With the right guidance and investment property support, navigating the Australian property market can be a rewarding experience.
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