The Richlands Industrial Property Trust (the Trust) was established to acquire a modern warehouse complex located at 509 Boundary Road, Richlands. Richlands is a prime industrial suburb 17 kilometres south west of the Brisbane CBD. The Richland property consists of 2 buildings, one being a metal clad office warehouse factory and the other a recently constructed modern warehouse structure. The property is located at the corner of Acanthus Street and Boundary Road. Purchased in September 2009, the property was acquired at a significant discount to replacement cost with the objective of providing investors with regular distributions, an attractive yield and capital growth in the medium to long term for unitholders as a result of the industrial property cycle being subdued.
The property comprises two buildings with long term leases attached. The tenants are:
- Australian Brushware Corporation Pty Limited; and
- NatSteel Australia Pty Ltd