{"id":92136,"date":"2021-03-08T17:38:00","date_gmt":"2021-03-08T06:38:00","guid":{"rendered":"https:\/\/www.fnarena.com\/index.php\/2021\/03\/08\/irongate-group-acquires-industrial-property-in-prime-brisbane-location\/"},"modified":"2021-03-08T17:38:00","modified_gmt":"2021-03-08T06:38:00","slug":"irongate-group-acquires-industrial-property-in-prime-brisbane-location","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2021\/03\/08\/irongate-group-acquires-industrial-property-in-prime-brisbane-location\/","title":{"rendered":"Irongate Group Acquires Industrial Property in Prime Brisbane Location"},"content":{"rendered":"<p><span class=\"xn-location\">SYDNEY<\/span>, <span class=\"xn-chron\">March 8, 2021<\/span> \/PRNewswire\/ &#8212; Irongate Group (ASX: IAP; JSE: IAP) has entered into a contract for sale of land to acquire an industrial facility located at 153 Main Beach Road, Pinkenba QLD (<b>Property<\/b>) for <span class=\"xn-money\">$24,750,000<\/span>. The purchase price represents an initial yield of 5.3% and the acquisition will be funded through IAP&#8217;s existing syndicated debt facility. <\/p>\n<p>The Property was constructed in 2018 and comprises 1,852m&#178; of office and warehouse accommodation and 33,615m&#178; of high-quality hardstand. The Property is leased to Grays, the largest industrial, auto and commercial eCommerce business in Australasia, with a lease expiry in <span class=\"xn-chron\">March 2028<\/span> and fixed annual escalations of 3.5%.<\/p>\n<p>Commenting on the acquisition, IAP CEO, <span class=\"xn-person\">Graeme Katz<\/span>, said, &#034;the Property provides IAP with a strategic land holding of almost four-hectares in the Australian Trade Coast Precinct, one of <span class=\"xn-location\">Brisbane&#8217;s<\/span> premier industrial locations. Pinkenba is immediately adjacent to Brisbane Airport and the area will benefit from infrastructure upgrades associated with the new Brisbane International Cruise Terminal. We believe the <span class=\"xn-location\">Brisbane<\/span> industrial sector currently offers relative value and the acquisition will increase IAP&#8217;s exposure to industrial property to 32% by both income and value.&#034;<\/p>\n<p>The acquisition is due to complete on <span class=\"xn-chron\">22 March 2021<\/span>.<\/p>\n<p>Related Links :<\/p>\n<p>https:\/\/irongategroup.com.au\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SYDNEY, March 8, 2021 \/PRNewswire\/ &#8212; Irongate Group (ASX: IAP; JSE: IAP) has entered into a contract for sale of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[105],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/92136"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=92136"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/92136\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=92136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=92136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=92136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}