Charter Hall’s Direct Industrial Fund No.4 enhances portfolio with $141 million industrial acquisition
20 April 2021 -
- Charter Hall Direct Industrial Fund No 4 (DIF4) continues to grow
- DIF4 current yield 5.9% pa – open for investment
- 2 state of the art food facilities in Victoria acquired by DIF4 for $141m
- Available on all leading investment platforms
Charter Hall Direct’s Industrial Fund No.4 (DIF4) has announced the acquisition of two food manufacturing facilities on a 30-year sale and leaseback to leading food business Patties Foods for $141 million.
The sale and leaseback arrangement with Patties Foods provides for a 30-year triple net lease with fixed 3% annual reviews. The Portfolio consists of two properties including the world class bakery in Bairnsdale and fast growing ready meals facility in Pakenham, Victoria, with a combined site area of 27.2 hectares. The improvements comprise 46,175sqm of GLA (17% site coverage) including 41,478sqm of warehouse and total office area of 4,697sqm (10.2%) across both sites.
Patties Foods Group is one of the largest pie manufacturers in the world, producing some of Australia’s most iconic, market leading brands, including Four’N Twenty, Patties, Herbert Adams, Boscastle, Nanna’s, Ruffie Rustic Foods and Fitness Outcomes, for domestic and global export.
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