Leda Holdings Sells 2 Industrials for 50% gain in 3 years

20 August 2020

Leda Holdings has sold 2 industrial assets in Sydney's west for $46m and pocketed a 50% gain over 3 short years.


Leda acquired the first asset at 5 Williamson Rd, Ingleburn in Sep 2017 for $24.75m and sold it this week to EG funds Management for $38.2m, a $13.45m gain (54%). The passing yield on the asset was 5.4% and would have generated an ungeared IRR for Leda of circa +23%. The 4.1ha site comprises three separate buildings and is anchored by Austcor Packaging.


The second asset at 8 Hexham Place , Wetherill Park was acquired by Leda in May 2017 for approx $5m and sold to a private investor for $7.85m, a 57% gain. The 6,560sqm site contains a 3,217sqm facility leased to Angrow and was sold on a passing yield of 5.3%.


The two properties were sold via Colliers and CBRE.


The second asset was part of a portfolio of 6 industrial properties Bob Ell acquired from Simonson Properties for $71m. Leda sold 2 of the assets in Victoria Street Wetherill Park in 2018 for $44.7m.