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.