Charter Hall’s leading A$7.5 billion ($5.76 billion) wholesale industrial and logistics fund, CPIF, has announced the acquisition of Auburn Redyard, an outlet style retail center located at 98-100 Parramatta Road, Auburn NSW (Property) from the Reading Property Group (Vendor) for A$90 million ($69.15 million).
Given the 4.82-hectare (11.91-acre) landholding, its broad B6 Enterprise Corridor zoning and strategic location in central metropolitan Sydney, Auburn Redyard provides CPIF with the opportunity to secure an income generating land holding with medium term redevelopment potential.
The high profile land holding is located in the tightly held, land constrained in-fill location of Auburn, approximately 18 kilometers (11 miles) west of the Sydney CBD and 6 kilometers (3.7 miles) east of the Parramatta CBD. The site has 450 meters (1,476 feet) frontage to Parramatta Road, with secondary frontages to both Percy and Nyrang Streets, and provides excellent access to the S
