Industrial property gross sales tempt buyers


The properties, at 169 Princes Freeway, Bairnsdale, and 28-46 Bald Hill Street, Pakenham, are being provided on the market in-one-line or individually.

The properties will probably be leased again to Patties Meals underneath a 30-year triple internet sale and leaseback settlement, demonstrating Patties’ long-term dedication to proceed manufacturing at each websites.

JLL’s head of capital markets industrial & logistics Australia, Mr Iuliano stated he anticipated the property would entice a variety of buyers because of the long-term earnings stream that’s secured by the long-term tenant.

“All through 2020, we noticed $2.23 billion of business funding gross sales as sale and leaseback transactions and we count on this development to proceed into 2021 and past,” Mr Iuliano stated.