Edinburgh manufacturer is a steel plated purchase for ASX listed investment group.
A NATIONAL, ASX listed real estate investment group has splashed out on its second major, South Australian commercial property within 16 months.
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A NATIONAL real estate investment group has bought its second South Australian commercial property in 16 months.
The Sydney based Centuria Capital Group has spent $19.5 million in a surprise deal for SA Structural’s industrial facility in Edinburgh on a sale and leaseback basis.
In July this year, Centuria paid $127 million for the SGIC badged 80 Flinders St, Adelaide and last year also paid $92.3 million for a half share in the Bendigo & Adelaide Bank headquarters at 80 Grenfell Street in the CBD.
The purchase of the SA steelmaker’s base by the ASX listed Centuria Industrial REIT demonstrates its ongoing confidence in the state said its head of funds management, Ross Lees.
SA Structural, a privately-owned national company is one of the largest employers in northern Adelaide and one of the largest structural steel manufacturers in Australia.
Its Edinburgh facility comprises a state-of-the-art office and warehouse built in 2013 with a gross lettable area of 13,007sq m on a landholding of 65,210sq m over two titles.
CBRE agents Jordan Kies, Craig Klemich and Chris O’Brien managed the off-market sale of the 40-54 Kaurna Ave plant.