LOGOS and TCorp Acquire Two Sigma Distribution Centres in Kemps Creek, NSW and Berrinba, QLD

Media
Monday 10th August 2020

LOGOS and TCorp are pleased to announce they have acquired two high quality distribution centres from Sigma Healthcare Limited (Sigma) in Kemps Creek, NSW and Berrinba, Queensland for $172 million. As part of the agreement, Sigma has entered into a 15-year lease agreement with two five-year options to extend, with first year lease cost just under $8.0 million annualised.

The two properties are located in the established logistics suburbs of Kemps Creek in Western Sydney and Berrinba in Brisbane’s south east precinct and benefit from close proximity to local key transport, infrastructure and government investment.

The Kemps Creek and Berrinba facilities, which have a combined GLA of 56,400sqm and site area of approximately 9.8 hectares, were designed and purpose-built for Sigma in 2016 and 2019 respectively with the pharmaceutical provider investing circa $60 million in automation and sustainability initiatives, with a target 4.5 Star Green Star Rating. Both facilities include ambient temperature-controlled warehouses to accommodate Sigma’s specialist pharmaceutical products.

LOGOS’ Head of Australia and New Zealand, Darren Searle, said: “We are pleased to be partnering with such a high-quality customer in Sigma and adding these two modern facilities to our Australian portfolio alongside our other assets in Erskine Park and Berrinba.

“LOGOS is focused on building a strong portfolio of modern, high-quality logistics assets that service the core logistics sectors of e-commerce, food and cold storage. The Sigma properties are an important addition to our customer relationships and are in line with our strategy, as the assets are directly linked to pharmaceutical fulfilment which has continued to perform and shown resilience, especially in the current market.

“We remain committed to supporting our customers and their relevant industry sectors as we extend our reach across the Asia Pacific region and have strong confidence in the pharmaceutical market. We will look to further expand into the sector over the coming years,” Mr Searle added.

LOGOS and TCorp’s partnership is focused on assembling a premium core logistics portfolio underpinned with high quality, well leased assets in strategic locations across Australia.

LOGOS’ Asia Pacific portfolio comprises over 100 logistics assets and operations across nine countries with a completed value of approximately A$13.8 billion. LOGOS counts some of the world’s largest fund managers as its shareholders, including ARA Asset Management, a leading Asia Pacific real assets fund manager with a global reach, which took a majority stake in the company in March 2020.