Altis portfolio tipped to fetch $285m

Boutique investment house Altis Property Partners has put a second portfolio of industrial and office park assets on the block, with its latest collection tipped to sell for more than $285 million.

The offer of the AREEP II portfolio, which spans properties mainly in NSW, along with some in Victoria and Queensland, comes after the group sold almost $400 million of assets in late 2014, a large chunk of which went to Mirvac Group.

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Since that time a host of portfolios have been offered by private holders, including the Scheinberg family, private equity-backed 151 Property Group, Goodman Group and Charter Hall.

The latest Altis portfolio comprises nine assets, seven of which are in Sydney, with the remaining two in Port Melbourne and the Port of Brisbane.

The portfolio has a weighting to Sydney NSW, of over 75%, which will be of strong appeal to the market due to the restricted barriers of entry within the Sydney market

The offering spans a total area of 138,707sqm, with all the assets in core markets with limited land supply.

The properties also have good access to infrastructure and strong prospects for capital and rental growth, which is likely to draw local and offshore buyers, say selling agents Gavin Bishop and Roger Miller, of Colliers International.

“The assets will be offered either individually or in one line, as Altis did with their first portfolio,” Bishop says.

“The portfolio has a weighting to Sydney NSW, of over 75%, which will be of strong appeal to the market due to the restricted barriers of entry within the Sydney market.”

With a fully leased net income of more than $18.7 million per annum, the tenant roster includes some of Australia’s most famous names, including Boral, Yates, and GM Holden.

This article originally appeared on www.theaustralian.com.au/property.