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Investec Australia Acquires Metro Properties

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Investec Australia Property Fund has acquired two significant New South Wales properties totalling $AUD160 million, flagging the international company's interest in the state.


2 Richardson Road, North Ryde along with 20 and 24 Rodborough Road, Frenchs Forest, were purchased by the company with cost details below:

  • AUD 85 million (excluding transaction costs) for the North Ryde Property, which equates to an initial passing yield of 7.0% (pre transaction costs)
  • AUD 75 million (excluding transaction costs) for the Frenchs Forest Property, equating to an initial passing yield of 7.5% (pre transaction costs) and a fully leased yield of 8.0% (pre transaction costs)

Header image: CBRE

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Article originally posted at: https://https://theurbandeveloper.com/articles/investec-australia-acquires-metro-properties