Raphael Geminder's Centralbridge trans-Tasman industrial portfolio listing

Melbourne packaging magnate Raphael Geminder has put an industrial portfolio with a combined worth of $80 million on the market through his PACT Group Pty Ltd subsidiary company, Centralbridge.

The trans-Tasman portfolio comprised of four properties, described as a combination of passive investment properties and redevelopment opportunities, has locations in Moorabbin, (VIC) Condell (NSW), O’Connor (WA) and East Tamaki, (New Zealand).  

CBRE who have been appointed the campaign for the sale, say they expect to attract strong local interest given a relatively stable economy and appealing borrowing rates.  

Mr. Geminder, whose subsidiary companies also include Alto Packaging Australia, Viscount Plastics and VIP Packaging, said that the improved state of the industrial market indicated an ideal time to divest part of Centralbridge’s portfolio.  

With exception to the O’Connor property (which will be offered on a short term lease, or with vacant possession), all properties are to be sold subject to long term 12 year leases to subsidiaries of Geminder’s PACT Group.  

CBRE’s Chris O’Brien said; ““This long term secure income underpinned by the high land values will only enhance the potential performance of the assets over the investment horizon.”  

The portfolio is being offered for sale via an expressions of interest campaign closing 14 June 2013.  

CBRE’s Victorian Industrial Investments team of Chris O’Brien, Matt Haddon and Rory Hilton will be in charge of the campaign.