EG Strengthens Industrial Portfolio With $33 Million Acquisition For ACE Fund

EG is pleased to announce the acquisition of an industrial estate at 81-87 Beauchamp Road, Matraville, NSW for $33 million for their Australian Core Enhanced Fund (EG ACE).

The property is located just 9km southeast of the Sydney CBD and is well-connected to Port Botany, Sydney Airport and major transport infrastructure.

With a gross lettable area of 6,319sqm, the asset is fully leased to Home Timber and Hardware (who are ultimately owned by Metcash Limited ASX:MTS), for approximately the next three years.

“The rise in e-commerce, combined with the demand for businesses to be situated near major ports and intermodal infrastructure, positions Matraville as a highly desirable industrial location for a variety of occupiers”, said EG’s Senior Manager – Capital Transactions, Pishoy Gobran.

Secured via an off-market approach through Trent Gallagher of Colliers International, the property is the tenth asset acquired for the EG ACE Fund, following the recent acquisition of a turnkey industrial facility at 28 Flint Street, Richlands QLD.

EG ACE is an open-ended, diversified fund that seeks to reposition assets to core, targeting office, retail and industrial real estate in Australia. The Fund has additional undrawn investable capital of over $450 million.

EG is currently considering additional properties for acquisition in the fast-growing EG ACE portfolio.