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Port Adelaide SA
GLA 15,520sqm on Land 44,080sqm
Purchased June 2013 • Sold December 2020
A large office warehouse facility located approx. 14km north west of the Adelaide CBD. Close to the Adelaide port precinct benefitting from excellent access to road, sea and rail networks.
The property was purchased on a sale lease back agreement from Arrium Limited (OneSteel Trading).
Pre-acquisition, QE successfully negotiated a new 12 year lease with two option terms of 7 years with the long-standing occupant.
Notwithstanding the relatively passive nature of this investment, we continually focused on developing and maintaining a strong relationship with the tenant.
This resulted in undertaking upgrade works to the site in return for a 5 year lease extension.
The property is currently tenanted by Infrabuild, a fully owned subsidiary of GFG Alliance that acquired the OneSteel Trading business.