EG Acquires Belrose Property For $18.09m

EG, a leading Australian real estate fund manager, is pleased to announce the recent acquisition of 22 Narabang Way, Belrose for 18.09 million.

The modern high clearance industrial facility comprises approximately 4,806sqm GLA and is fully leased to six tenants who have a history of long occupation. Located in the tightly held Northern Beaches Industrial market property has been acquired to establish a new syndicate for wholesale investors.

“This acquisition offers EG’s client’s ownership in a new wholesale investment vehicle providing initial distributions in excess of 7.25%, with potential for capital growth from a high-quality industrial investment located in the heavily land constrained Northern Beaches industrial market” said Sean Fleming, Associate Director, Capital Transactions.

The property was acquired on a net passing yield of 5.72%.

The property signifies the launch of the Belrose Investment Trust, a bespoke opportunity for wholesale investors.  

The transaction was brokered off-market by Vincent West from Upstate Commercial.