HDY advises Goodman on $253m property sale of Coles Distribution Centre
13 July 2015
HDY advised Goodman, in joint venture with Brickworks Limited, on the sale of the Coles Chilled Distribution Centre at Eastern Creek for $253 million to Mapletree Logistics Trust.
The 55,395 sqm 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 sqm. The extension has an agreed 20 year lease until 2034 in place with Coles.
The HDY team was led by property partner Andrew Steele and included lawyer Liz Boden.
Andrew Steele said "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."
Mapletree Logistics Trust was advised by King & Wood Mallesons.
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