EG has acquired its seventh investment opportunity in 12 months for wholesale investors on behalf of its Private Wealth division.
“EG’s Private Wealth Division was launched off the back of high investor demand and has already grown a portfolio of assets totaling $100 million in value,” said EG’s Head of Private Wealth Rodney Walt.
“We continue to invest in multi-use real estate, offering high income yield with strong capital-growth potential in important growth corridors.”
The multi-tenanted industrial estate at 5 Walker Street, Warners Bay, NSW was acquired for $7.82 million, with the Trust rapidly oversubscribed in just three days. It is situated 17km south of Newcastle CBD.
The 1.1ha property generates $436,839 in net income providing EG with a passing yield of 5.6%.
The transaction was brokered on-market by Tim Woolf and Luke Rutledge of Colliers Newcastle.
“The site is leased to 14 tenants and has a weighted average lease expiry of 1.8 years with strong potential for positive short term rental reversion and multiple value add strategies,” said Sean Fleming, Head of Capital Transactions.