3 May 2024

KM Property Funds is pleased to announce the successful acquisition of a quality industrial property in Brendale, Queensland. This marks the second transaction completed under the strategic partnership with Partners Private, not long after closing on the first exclusive single-asset fund, KMPF Industrial 01.
 
The new fund, KMPF Industrial 02, acquired two adjoining land parcels in Brisbane’s northern corridor for $23.8 million. The property is located at 23-25 South Pine Road, Brendale QLD, adjacent to Strathpine Train Station and is classified as Centre Zone, allowing for high density residential in the future. It is a significant land holding in Brendale’s industrial precinct, currently experiencing the lowest vacancy rate on record. The Property is predominantly leased as a car yard to Austral Pty Ltd, a subsidiary of the ASX-listed Eagers Automotive Ltd, with a WALE of approx. 4.2 years.
 
The opportunity to participate in the Fund was highly sought-after by Partners Private’s clients seeking value-add style returns through the acquisition of mid-market, high growth, industrial real estate. Investor interest in the Fund was strong, and the Fund was fully subscribed before the offer closing date. The Property was settled on 24 April 2024.

The 4.8-hectare site is improved with hardstand and two warehouses providing 4,097 sq. m of area under roof. The investment presents a unique opportunity to own a land rich industrial property with low site coverage, yield upside and flexible zoning for future development.

Director of Acquisitions, Tom Korda, said: “We were attracted to this property because it is next door to a major train station and zoned for higher and better use in an emerging Brisbane suburb and economy. What makes it even more attractive is the potential to grow the yield and investment value through rent reversion and active asset management. This all combined provided an attractive risk adjusted value-add forecast return for investors.”

Chief Executive Officer, Tom Davis, said: “We are proud to have partnered again with Partners Private on this exclusive investment opportunity for their clients. Our first exclusive partnership was for a Dandenong South industrial investment, and we have enjoyed their support for co-mingled funds either side of that, most notably our Epping Healthcare Fund which settled last year. We will continue to target mid-market, high-growth industrial assets using local capital as that is what investors are seeking.”

The sale was brokered by Elliot Ryan, Director, Industrial Investments at Knight Frank. Elliot said: “Knight Frank introduced the property to KM Property Funds off-market who acted promptly with a strong long-term vision for the site. Brisbane is expected to continue to grow, particularly in the northern corridor, given the strong levels of investment into infrastructure within the area as a result of major projects including the 2032 Olympics.”

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
Stephen Dabkowski | +61 419 880 486 | [email protected]
Deena Hooper | +61 434 477755 | [email protected]