Settlement complete on two new assets for MPF Diversified Property Fund No.2

The team at Mair Property Funds are delighted to announce we have completed the acquisition of two industrial assets following our third raising for MPF Diversified Property Fund No.2.

39-jessie-lee-street-henderson

The assets, acquired off market for $4,700,000 and $5,200,000 respectively, include an industrial facility located in the industrial zone of Welshpool WA and a purpose-built office and logistics warehouse located at 39 Jessie Lee Street in Henderson.

Established in late 2018, the fund already holds a warehouse facility in the industrial precinct of Crestmead in Brisbane, a medical laboratory in Queensland, and a First Choice Liquor in the suburban area of Falcon, WA.

The latest acquisitions increase the asset base of the fund to a value of $28.4 million, taking its portfolio to almost half of its $60 million target.

The two new assets had been selected by our team due to their strong strategic locations, with Welshpool forming a key focus area for industrial businesses due to its central location between the port and Perth’s airport.

As the supporting precinct for the Australian Marine Complex, we have also seen rising demand for industrial assets in Henderson, driven both by WA’s recovering resources sector and renewed growth in the defence and marine industry.

With the assets holding strong lease covenants to international collision repairer Capital S.M.A.R.T Repairs and multinational marine company SINWA, we are confident the new acquisitions will add to the income security of the trust and further enhance its long-term performance.

As part of our negotiations, we have also secured a seven-year lease contract with SINWA, which we hope will add even greater security to distribution expectations for our investors.

We have noticed increasing demand from our investors for products that offer greater levels of diversification in terms of tenancy mix and asset location, and look forward to continuing our acquisition strategy for this fund in the near future.

If you would like to find out more about the latest investment opportunities with Mair Property Funds, or to subscribe to our email list, visit mair.com.au or contact our Key Relationships Manager, Brad Dunn on bdunn@mair.com.au

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