Australasian real estate funds manager Centuria Capital Group and global investment firm BGO have completed the joint acquisition of three off-market warehouses in Western Sydney valued at $201 million.
The assets, located in Smithfield and Seven Hills, provide approximately 45,000 sqm of prime industrial space in key urban infill markets with a low vacancy rate of 2.7 per cent.
The properties include two facilities on Britton Street, Smithfield, and one on Stanton Road, Seven Hills. These assets are strategically positioned within established logistics corridors that offer access to major road networks and a combined residential catchment of over three million people.
Jason Huljich, Joint CEO of Centuria, said the group was pleased to partner with BGO and highlighted growing international interest in domestic infill industrial markets. “This type of institutional partnership speaks to the strong appetite from international capital seeking to harness the strong domestic industrial sector tailwinds,” he said.
Jesse Curtis, Head of Funds Management at Centuria, noted the properties offer near-term rental growth potential and value-add opportunities. “With Australia’s burgeoning population increasing demand from the industrial and logistics sector, coupled with limited new supply within infill markets, we believe macroeconomic tailwinds for the sector will persist throughout the medium term,” he said.
Centuria will manage the assets and hold a five per cent stake in the portfolio. The acquisition supports Centuria’s $2.1 billion in institutional partnerships and aligns with BGO’s continued focus on Australia’s urban logistics hubs.
The transaction was facilitated by CBRE’s Chris O’Brien, Jason Edge and Shaun Timbrell, along with Colliers’ Trent Gallagher and Gavin Bishop.
Facility features include high-clearance warehousing, ESFR sprinklers, container-rated yards, and multiple recessed and on-grade roller doors, suitable for logistics and distribution operations.