Investment Summary
Investment Type:
Equity Investment
Location:
Revesby, NSW
Sector:
Self-Storage
Acquisition:
October 2023
Disposal:
October 2024
Investment Overview
- Burtonwood secured an off-market co-investment opportunity to acquire an interest in the newly developed self-storage and retail showroom facility located at 128 & 128a Milperra Road, Revesby, NSW.
- The property comprises c.7,700sqm of land, improved with a newly constructed 5,525sqm self-storage facility, and a 1,053sqm ground floor retail showroom. In addition to the built form, the property has 54 storage containers situated on surplus land which also form part of the storage offering.
- Burtonwood acquired its interest from the developer(s), Trumen Corp, Norman Property Partners and their associated investor group, who specialise in Industrial and Self-Storage development projects throughout Sydney and retain a majority ownership alongside Burtonwood.
- Sale and settlement of the facility occurred in October 2024. This sale occurred approximately four (4) years ahead of forecast resulted in an Investor IRR considerably above what was originally contemplated, at a considerable premium than the Projected Investor IRR.
