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Coles warehouse sold to Mapletree
Two firms have concluded the $253 million sale of a Coles Distribution Centre.
Felicity Nelson
Firms: Henry Davis York (Goodman); King & Wood Mallesons (Mapletree Logistics Trust)
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Deal: Goodman sells Coles Distribution Centre to Mapletree Logistics.
Value: $253 million
Area: Property
Key players: The HDY team was led by property partner Andrew Steele (pictured) and included lawyer Liz Boden.
Deal significance:
Henry Davis York advised Goodman, in joint venture with Brickworks Limited, on the sale of the Coles Chilled Distribution Centre at Eastern Creek, west of Sydney, for $253 million to Mapletree Logistics Trust.
The 55,395 sq m chilled distribution centre was purpose-built for Coles in 2007. It includes extensive hardstand areas, ambient and temperature-controlled warehousing and office space. In July 2014 the building was extended by 12,325 sq m. The extension has an agreed 20-year lease until 2034 in place with Coles.
"There is a real mood of optimism in property and this deal is one of a number of significant real estate transactions currently in the market," Mr Steele said.
