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360 Capital Acquires Two Woolworths Warehouses

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ASX-listed fund manager,

360 Capital has added two Woolworths warehouses to its property portfolio.

The two assets located in Warnervale, NSW and Townsville, QLD, are fully leased to Woolworths.

The NSW facility is leased to Woolworths for seven years and the QLD facility is leased to Woolworths for 11 years.

According to The Australian Financial Review, 360 Capital will fund the acquisitions from a $61 million capital raising.

Colliers International, who managed the sale of the assets on behalf Arena, said the facilities represented an excellent opportunity for an investor seeking to acquire a premium grade portfolio featuring highly functional and modern improvements.

The NSW facility has a total building area of 55,000 square metres with a site area of 231,600 square metres.

The QLD facility has a building area of 4,726 square metres with a site area of 29,250 square metres.

The assets provide a combined total income of $6.4 million per year.

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Article originally posted at: https://theurbandeveloper.com/articles/360-capital-acquires-two-woolworths-warehouses