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Adelaide logistics property bags $98 million

logistics property Penfold

SCT Logistics has completed South Australia’s largest industrial transaction of 2021.

Globally active family office AM alpha completed the deal for the fully leased Treasury Wine Estate Intermodal Facility in Penfield, South Australia.

The $98 million price tag represents an equated market yield of 5.1 per cent.

The modern property is approximately 28 kilometres north of the Adelaide CBD with a purpose-built temperature-controlled and ambient distribution facility with more development land.

The almost eleven-hectare site is fully leased to tenant Treasury Wine Estates (TWE) with a weighted average lease expiry of around 9.5 years.

Immediate access through the SCT Penfield Rail Freight Centre will provide an efficient pathway of products to Port Adelaide and further to Melbourne, Perth and Darwin.

The deal was negotiated off market by Savills Australia on behalf of SCT.

Ryan Mills, Associate Director Capital Transactions at Savills Australia, says the rail freight centre is strategically located adjacent to the ARTC Adelaide to Port Augusta mainline.

“Within a short space of time, it has become one of Australia’s busiest rail hubs. The site acts as a centre for freight consolidation and distribution, making it an attractive location for organisations as an anchor point into northern Adelaide, the surrounding region, the interstate rail network and with direct access to Port Adelaide,” he says.

Rino Carpinelli, Managing Director – SA at Savills Australia, says the Penfield property is just one of a number of off market Industrial transactions that Savills has been working on this year.

“The growing tenant demand for quality logistics assets and no stamp duty on commercial transactions will continue to strengthen investment in the Adelaide market,” Rino says.

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