Centuria Industrial REIT (CIP) has entered an agreement to acquire two high quality industrial assets at 46 Robinson Road East, Virginia QLD and 23-41 Galway Avenue, Marleston SA. Both are 100% leased to Arnott’s Biscuits Limited.
”These additional assets expand CIP’s portfolio value to A$1.5 billion, significantly enhance the portfolio’s WALE, introduce a new national tenant to the fund and provide increased exposure to infill markets with close proximity to major infrastructure, reiterating CIP’s position as Australia’s largest pure play industrial REIT, said in a press release.
“The acquisitions are 100% leased to Arnott’s, an iconic Australian brand with the leading market position in the manufacture and supply of Australian biscuits. The assets contain significant “mission critical” infrastructure that is core to the tenants ongoing operations,” said Jesse Curtis, CIP Fund Manager.
Both assets feature long term, triple net leases with a combined WALE of 27.7 years and fixed annual rental reviews supporting CIP’s future income streams.