Growthpoint Properties buys logistics warehouse in Victoria

Company News

by Rachael Jones

Growthpoint Properties Australia (ASX:GOZ) has entered into a contract with Frasers Property Group to acquire 3, Maker Place in Victoria for $40 million.

This property is the newly completed logistics warehouse that is fully leased for over three years to HB Commerce, an international commerce business.

The property is being acquired on a 5.83 per cent initial income yield. It's due to settle by the end of the week.

Shares in Growthpoint Properties Australia (ASX:GOZ) are trading 0.11 per cent lower at $4.37.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.