EG has partnered with ASX listed pharmaceutical wholesaler and distributor company, Sigma Healthcare (ASX: SIG), to deliver their new critical storage and distribution centre on a parcel of land in Bridgewater, Tasmania.
The off-market opportunity was negotiated on behalf of EG’s Private Wealth division, led by Rodney Walt and Head of Capital Transactions, Sean Fleming.
Bridgewater is a newly formed industrial estate located 22 kilometres from the Hobart CBD. In January 2022, Brighton Council approved the Development Application for the site that is currently vacant land located at Lots 20, 21 and 22 Greenbanks Road, Bridgewater. Construction works are scheduled to commence by the appointed builder, Ahrens, in March with completion expected in September 2022.
Following a strong first year in commercial property syndications, this latest investment opportunity has been offered to EG’s wholesale investors on behalf of its Private Wealth division for the Long WALE Property Trust No. 3.
“The ability to partner with a quality customer such as Sigma to deliver our investors a de-risked development project that is forecast to provide stable distributions averaging 9.5% p.a. demonstrates EG’s focus on long term relationships” said EG’s Head of Capital Transactions, Sean Fleming.
EG’s Head of Private Wealth, Rodney Walt added “Strengthening Sigma’s pharmaceutical supply chain in Australia with this landmark facility serves to benefit both customers in mainland Tasmania and EG’s valued investor community.”
Founded in 2000, EG manages $5.1 billion in real estate on behalf of super funds and private wealth clients to generate outstanding returns with lasting social impact. With $3.9 billion in development pipeline, EG is committed to finding a better path to better returns.