JLL Capital Markets Industrial & Logistics team is pleased to offer for sale an exceptional investment opportunity of scale for two Australian manufacturing facilities which underpin the national and global operations of iconic Australian brand, Patties Foods. The assets are both located within Victorian at 28-46 Bald Hill Road, Pakenham and 169 Princes Highway, Bairnsdale.
Patties Foods group is the largest pie manufacturer in the world, producing some of Australia’s most famous household and market leading brands, including Four’N Twenty, Patties, Herbert Adams, Boscastle, and Nanna’s. Originally established in 1966, Patties provides a long and rich history within the Australian food manufacturing landscape and now proudly employ over 1,000 staff across Australia and New Zealand.
Key Investment Highlights for 169 Princes Highway, Bairnsdale include:
- Long Lease to Iconic Australian Food Manufacturer in Patties Foods
- Significant 30 year WALE structured on a Triple Net basis
- Fixed rental growth of 3.0% p.a. providing a strong running yield
- Commencing income of $3,050,000 p.a. with 100% occupancy
- Patties Foods budgeted Net Sales Value for FY2021 is in excess of $480 million*
- Substantial Industrial 1 Zoned land holding of 21.76 hectares (5.93 hectares utilised for operations area)
- Tenant infrastructure embedded across the Bairnsdale asset of $90+ million in tenant plant and equipment
The property is being offered for sale via Expressions of Interest closing Wednesday 24th March 2021 at 4pm (AEDT).
For further information please contact the below exclusive marketing agents.