Realmont Property Partners (Realmont), an independent boutique real estate investment management group, introduced the asset to AM alpha and will provide ongoing local management support.

The acquisition from SCT Logistics (SCT) of the fully leased Treasury Wine Estate Intermodal Facility at 123-145 Pellew Road, Penfield SA for $98 million represents an equated market yield of 5.1%.

The deal was negotiated off market by Ryan Mills and Rino Carpinelli of Savills Australia on behalf of SCT.

The modern property is approximately 28km north of the Adelaide CBD and comprises a purpose-built temperature-controlled and ambient distribution facility together with further development land. The property has an area of approximately 45,000sqm on a site of 10.95 hectares and is fully leased to ASX listed tenant Treasury Wine Estates (TWE) with a WALE of around 9.5 years.

The facility is a domestic and international distribution centre with immediate access through the SCT Penfield Rail Freight Centre to the rail freight line providing direct access to Port Adelaide and further to Melbourne, Perth and Darwin.

According to Ryan Mills, Associate Director, Capital Transactions at Savills Australia, SCT Logistics Penfield Rail Freight Centre is strategically located in Penfield to the North of Adelaide adjacent to the ARTC Adelaide to Port Augusta mainline and has seen significant growth since inception.

“Within a short space of time, it has become one of Australia’s busiest rail hubs. The site acts as a centre for freight consolidation and distribution, making it an attractive location for organisations as an anchor point into northern Adelaide, the surrounding region, the interstate rail network and with direct access to Port Adelaide” he said.

According to Rino Carpinelli, Managing Director – SA at Savills Australia, this is just one of a number of off market Industrial transactions that Savills has been working on this year.

“The South Australian Industrial sector has been a hive of activity during the last 12 months with strong interest in securely leased industrial investment opportunities. The growing tenant demand for quality logistics assets and no stamp duty on commercial transactions will continue to strengthen investment in the Adelaide market.”