EG is pleased to announce the Australian Core Enhanced Fund has acquired 5 Williamson Road, Ingleburn, NSW for $38.2 million.
The multi-let industrial facility consists of three separate structures delivering 18,514sqm of lettable area. The property is located within an established industrial precinct 50kms from the Sydney CBD and 30kms from the Parramatta CBD.
The acquisition provides the opportunity for EG to actively value-add through reconfiguration and expansion works and via the employment of targeted leasing strategies to improve contracted lease tenure.
“We are excited to have secured the third asset for our recently raised, multi-sector, Australian Core Enhanced Fund. 5 Williamson Rd will deliver reliable income from strong logistics-oriented tenants in an asset featuring multiple value-add opportunities. We are also strong believers for industrial outperformance in this improving precinct” said Daniel Farley, Fund Manager, EG.
The property is an addition to EG’s ACE portfolio, launched in June 2019, a core enhanced fund with the ability to invest over $800 million.
EG have utilised their proprietary risk management software, PRISMS® to select the asset as a portfolio addition, determining the optimal management strategy to maximise returns while safeguarding investor funds.
Founded in 2000, EG is investing $3.2 billion in real estate on behalf of super funds and private wealth clients to generate outstanding returns with lasting social impact. With $2.1 billion in development pipeline, and 6.7% per annum in realised IRR for institutional funds, EG is committed to finding a better path to better returns.