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Industrial property sales tempt investors

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The properties, at 169 Princes Highway, Bairnsdale, and 28-46 Bald Hill Road, Pakenham, are being offered for sale in-one-line or individually.

The properties will be leased back to Patties Foods under a 30-year triple net sale and leaseback agreement, demonstrating Patties’ long-term commitment to continue manufacturing at both sites.

JLL’s head of capital markets industrial & logistics Australia, Mr Iuliano said he expected the assets would attract a wide range of investors due to the long-term income stream that is secured by the long-term tenant.

“Throughout 2020, we saw $2.23 billion of industrial investment sales as sale and leaseback transactions and we expect this trend to continue into 2021 and beyond,” Mr Iuliano said.

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