Australian Property Journal: Smooth moves for former Qld premier
FORMER Queensland premier Campbell Newman’s Arcana Capital has bought a Cassowary Coast warehouse occupied by packaging and logistics giant Visy and Australia’s largest banana producer, Mackays, for $6.6 million.
It is Arcana’s fifth real estate acquisition for 2022.
Lot 6 and 17 Ann Road in Silky Oak comprises 6,884 sqm of specialised cold storage and multi-purpose industrial warehousing on 13,639 sqm of land.
“The site is located in the heart of one of Australia’s premier agricultural regions, with strategic positioning adjacent to the Bruce Highway and Main Northern Railway Line and proximity to agricultural producers in the area,” Arcana said.
Its 18 South – Logistics Unit Trust is projected to deliver a distribution of 10% per annum paid monthly to wholesale investors.
CBRE managed the transaction.
In September, Arcana acquired an industrial and engineering workshop in Western Australia’s Kalgoorlie for $10.9 million that was purpose-built last year for Pacific Energy, a wholly-owned subsidiary of Queensland Investment Corporation.
That followed its purchases of an industrial and engineering workshop in Kayili Road, Kalgoorlie for $8.15 million, a medical and allied health property in Queensland’s Mackay for $6 million, and an industrial workshop also in Mackay for $3.5 million.
In June, it offloaded a fully leased retail centre on Bribie Island for $9 million, six years after it paid $7.3 million for the asset.
Newman, who was also Lord Mayor of Brisbane, ran for the Senate in this year’s federal election with the Liberal Democrats.
This article originally was published in the Australian Property Journal.