South Australia's Border Express distribution centre purchased by Primewest

South Australia's Border Express distribution centre purchased by Primewest
Staff reporterAugust 12, 2020

The Border Express distribution centre in South Australia has been purchased by Primewest.

The Border Express property is located within the Northern Adelaide industrial Precinct and returns a net passing income of $1.439 million.

“Border Express was a significant acquisition for the trust enabling it to uphold a 7% pa cash distribution to investors,” said Primewest Managing Director David Schwartz.

“A new five year lease was signed at settlement and of the 50,000 plus square metres of land, only 41% is occupied, allowing for further development potential.”

“We are looking to raise more funds for our acquisition pipeline.”

Mr Schwatz said Primewest remained confident in the future of key industrial and logistics markets nationally, as they continued to benefit from Australia’s growing exposure to on-line retailing and e-commerce as a result of COVID 19.

Editor's Picks

First look exclusive: Polycell files Sandpiper redevelopment plans after owner buyout
Inside Melbourne's new nature-based neighbourhoods
First look: Stockwell files for new Vulture Street, West End apartment tower
From Broadbeach to Main Beach: Why local downsizers are making the move to Drew Group’s Lagoon Main Beach
SMA Projects makes downsizing easier at The Regent Fitzroy with ‘Settle When You've Sold’ initiative