EG purchase fully leased Belrose industrial facility for $18 million

EG, an Australia-based real estate fund manager, has secured an industrial facility in Belrose for $18.09 million.

The modern high clearance complex, at 22 Narabang Way, comprises approximately 4,806 square metres GLA and is currently fully leased to six tenants.

“This acquisition offers EG’s client’s ownership in a new wholesale investment vehicle providing initial distributions in excess of 7.25%, with potential for capital growth from a high-quality industrial investment located in the heavily land constrained Northern Beaches industrial market,” said Sean Fleming, Associate Director, Capital Transactions.

The acquisition signifies the launch of the Belrose Investment Trust, which the company describe as “a bespoke opportunity for wholesale investors.”

The property was acquired on a net passing yield of 5.72%, and the transaction was brokered off-market by Vincent West from Upstate Commercial.