1 August 2023

KM Property Funds is pleased to announce the successful acquisition of a Dandenong South warehouse and its strategic partnership with Partners Private to create their first exclusive single-asset fund, KPMF Industrial 01.

The acquisition of the $16 million industrial property in southeast Melbourne for a select group of Partners Private clients seeded the partnership, which will target core-plus and value-add returns through the acquisition of mid-market, high growth, industrial real estate.

The property is located at 43–55 Mark Anthony Drive, Dandenong South, Victoria, one of Melbourne’s core industrial precincts, approximately 38 km southeast of the Melbourne CBD. The property is fully leased to Quest Flooring, a subsidiary of the London Stock Exchange-listed Victoria PLC, until 30 June 2026. 

The quality-built 8,386 sq.m warehouse has full drive-around access and occupies 1.7 ha of industrial 2-zoned land, whilst a recently installed 200 kW solar system offers significant power savings.

Director of Acquisitions, Tom Korda, said: “What attracted us to the property was the calibre of tenant covenant, high-quality construction, the high underlying land value, and potential for capital growth. We always look to protect our investors’ downside by buying close to or below replacement cost and given that construction costs are so high now, we see great value in buying existing built assets. The short three-year WALE also offers investors the potential to capture market rent growth in the medium term.”

Chief Executive Officer, Tom Davis, said: “We are extremely proud to have worked with Partners Private on this exclusive opportunity to provide their investors with a high-quality investment. Partners Private was able to close out the raise within a couple of days and significantly over-subscribe in that time. Given the market conditions, we think it’s a great time to take advantage of the lull in competition and have a strong pipeline of mid-market, high-growth industrial assets to continue to target alongside Partners Private in the near term.”

The sale was brokered by Melbourne’s southeast industrial specialist, Cameron.

About Partners Private
Partners Private is the wholesale investment arm of Partners Wealth Group, a diversified wealth management firm. Partners Private believes that individual investors deserve better access to institutional grade investments, offering bespoke unlisted investment opportunities for high-net-worth individuals that are usually reserved for investment banks, stockbrokers, and family offices. Partners Private investments focus on high-quality property, infrastructure, equity, and debt investments. 

KM Property Funds Contact
Mr Tom Davis | +61 3 8623 3449  | [email protected]

Media Inquiries
Lyall Johnson | +61 400 422 142 | [email protected]