Propertylink
(ASX:PLG) has acquired an industrial asset in Sydney’s Frenchs Forest for $20.7 million to expand its investments.
The property was purchased off market from a private vendor.
This increases the real estate group’s industrial property ownership to 14 with total assets worth $273 million.
The capitalisation rate of the purchased property is 7.69 per cent with a fully let passing yield of 8.4 per cent.
The property includes an office and warehouse facility with a total lettable area of 7,490 square metres on an 8,725 square metre site in the commercial precinct of Frenchs Forest.
Shares in Propertylink
(ASX:PLG) are trading 0.28 per cent higher to 90 cents a share.
