A portfolio of four high-quality industrial assets across Victoria and Queensland has been sold for a combined $40 million in a series of off-market transactions.

Burgess Rawson’s Justin Kramersh, alongside Townsville Partner Neville Smith for the Queensland assets, brokered the Civilmart-leased portfolio across Victoria and Queensland.

The portfolio includes prime sites in Pakenham and Corio, as well as Cairns and Rockhampton. The latter three follow the recent $12.5 million sale of Civilmart’s Pakenham facility, which achieved a tight 3.30% yield.

Mr Kramersh noted that the Pakenham property generated overwhelming interest, which resulted in the property selling eight days prior to the scheduled auction.

“The attraction of these long term leased assets outside of their long-term value add proposition and underlying land values was the strength behind the tenant” he said.

The Corio property, located at 215-225 Heales Road, sold for $15 million, reflecting a 5.37% yield, the sharpest yield for ever for an industrial asset in Corio. The buyer, a private Sydney-based investor, was an underbidder on the Pakenham asset and was eager to acquire the 50,000sqm site.

Additionally, the Cairns and Rockhampton properties were purchased by a Queensland investor for a total of $12 million, with a short 14-day settlement.

Mr Smith highlighted that the buyer’s focus was on assets offering blue-chip tenants and significant land holdings.

Mr Kramersh said the appetite for quality industrial investments remains incredibly strong.

“We’re seeing both private and institutional investors aggressively pursuing assets with strong fundamentals and blue-chip tenants, which has driven these sharp yields despite the still higher interest rate environment.”

In 2024, Civilmart Group, a leading Australian precast concrete manufacturer, was acquired by CRH, a global building materials conglomerate listed on the New York and London stock exchanges with a market capitalisation of over $50 billion.

Burgess Rawson is also marketing another premium industrial asset in Wodonga, Victoria, expected to fetch around $20 million through an Expressions of Interest campaign.