Investment opportunity: Arcana Capital acquiring prime Kalgoorlie industrial property
With forecast returns of 7.75 per cent over the first two years, commercial property investor and funds manager Arcana Capital has launched an investment trust for the acquisition of an industrial and engineering workshop in Western Australia's Goldfields region.
Commercial property investor and funds manager Arcana Capital has launched an investment trust for the acquisition of an industrial and engineering workshop in Kalgoorlie, Western Australia.
Arcana has entered into a $10.9 million contract for the purchase of the 2021 purpose-built building that sits on a total allotment of 20,236 square metres across three adjoining lots at 65 Carnegie Street, Kalgoorlie.
The property, comprising a net lettable area of 4,460 square metres, includes a large workshop facility with two 20-tonne gantry cranes, office, warehouse, 44 car parks, and substantial concrete hardstand.
The property has a weighted average lease expiry of 9.09 years.
It is tenanted by Pacific Energy, a wholly-owned subsidiary of Queensland Investment Corporation, a global investing entity owned by the Queensland Government. A ten-year lease expires 30 June 2031 with two five-year options.
Pacific Energy is a market leader in the design, delivery and implementation of power-generating assets in the remote energy, distributed energy resource, and renewables sectors.
Colby Phillis, Arcana Capital Associate, said interest in the trust was high and reflected the property’s location in a region well-positioned for renewable energy growth.
“Kalgoorlie is in one of the most resource-rich areas of the world, with Western Australia set to become a world leader in renewable energy and distributed energy resource projects,” Mr Phillis said.
“With a secure tenant, this purpose-built brand new workshop represents an outstanding investment opportunity for wholesale investors, with forecast returns of 7.75 per cent over the first two years.”
Further information and registrations of interest can be found here.
Headed by former Premier of Queensland and Lord Mayor of Brisbane, Campbell Newman, Arcana Capital has been operating since 2015, and has successfully completed the acquisition and ongoing management of 27 properties worth $170 million and raised nearly $100 million in investor equity.
Arcana Capital earlier this year purchased for investors an industrial and engineering workshop in Kayili Road, Kalgoorlie, for $8.91 million, and recently acquired a medical and allied health property in Mackay, Queensland, for $6 million.
Its investment portfolio features fuel stations, retail, office and industrial properties in Queensland, South Australia, Tasmania and Western Australia.
This information has been prepared by Arcana Capital Pty Ltd ACN 609 576 623, AFSR 1245173 as an Authorised Representative of Arcana Capital Funds Management Pty Ltd ACN 633 164 155 AFSL 518744.
The information is only for investors who qualify as wholesale clients under sections 761G of the Corporations Act 2001 (Cth) or to any other person who is not required to be given a regulated disclosure document under the Corporations Act. The Information is not investment advice. It is general information only and does not take into account the investment objectives, financial situation or particular needs of any prospective investor.