Goodman Group
(ASX:GMG) says its industrial fund joint venture with Brickworks will sell a Coles Chilled Distribution Centre in Eastern Creek, NSW for $253 million.
Singapore-based Mapletree Logistics Trust has agreed to the sale which is still subject to foreign investment approval.
The purpose-built centre is located on the M7 business hub which allows easy access to Sydney, Melbourne and Brisbane as well as regional delivery centres.
Coles have a 20 year lease on the building which expires 2034. The sale fits with the Goodman strategy of selectively rotating assets in its portfolio.
Goodman Group reported a net profit of $523.6 million for the first half of the 2015 financial year.
