Billionaire Bob Ell makes 50 plus percent on Ingleburn warehouse sale

EG Australian Core Enhanced (ACE) Fund, has paid $38.2 million for an Ingleburn industrial investment.

It was sold by Bob Ell’s Leda Holdings, who paid $24.75m for 5 Williamson Road in 2017.

Based on the multi-let asset’s net passing $2,073,454 income,  the deal reflected a 5.4 per cent yield.

The 4.1 hectare site includes 18,514 sqm of lettable area.

The weighted average lease expiry is 3.8 years to packaging companies Austcor and SPS.

The purchase is the third for the open ended EG ACE fund which was launched last June.

It is anticipated to invest more than $800 million.