Ex premier Campbell Newman’s mega post-politics payout
Former state premier Campbell Newman has landed a multimillion-dollar payout for a huge play he made the year after he lost power.
Mr Newman’s Arcana Capital firm has finalised the sale of a prime industrial property in Mackay bought for $9.7m in 2016 – the year after he was last Queensland premier.
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Former premier Campbell Newman has sold off a lucrative Mackay property bought the year after he lost power. Picture David Clark
It has been bought by Brisbane-based property investment group Quanta for $16.7million – an investment fund brand launched in 2022, which purchased over $80m of commercial property in its first year under CEO Stacey Jones, with their value of assets under management at $200m across five investment trusts.
Ms Jones told The Courier-Mail “we had great responses from our investors and this transaction is fully subscribed”.
The property in Paget, Mackay, was a strategic move by Quanta to get into high growth markets, the firm said, with major room to grow given the current building covered just 29 per cent of the 3.1 hectare site.
After Arcana Capital picked up the 91 Connors Road property for $9.7m in 2016, it leased it out fully occupied to United Group Limited (UGL), a subsidiary of Germany’s largest construction company, HOCHTIEF.
Mr Newman said “this asset has delivered great returns to our investors over the years but in line with the original strategy it is time to sell.”
Brisbane-based property investment group Quanta Investment Funds bought the prime industrial asset in Paget, Mackay for $16.7million.
“We believe that Quanta has secured a fantastic property that will continue to perform for their clients and offers clear capital growth moving forward,” he said.
As part of the deal finalised on September 11, Mr Newman committed to making $1.5m worth of capital works upgrades to ensure the property was ready for future growth and de-risk its capital expenditure profile for Quanta.
Ms Jones said their strategy was “seizing opportunities when they present themselves”.
“Securing this property in a market where transactions remain subdued is a significant achievement,” she said.
“This investment offers built-in capital and income growth potential, with the current passing rent approximately 20 per cent below market rates. Additionally, the property provides significant development upside due to the low site cover and tenant demand for additional lettable area.”
Quanta Investment Funds believes there is much more room for growth out of the industrial asset bought off Mr Newman’s firm.
Industrial assets were the sector of choice for Quanta, Ms Jones said, with strong support from their investors.
“We’re thrilled to offer this outstanding opportunity, which combines a strong return profile with tremendous value-add potential.”
“Ultimately, our goal is to provide our investors with more choices across the risk-return spectrum and in varying markets and sectors”
“The acquisition in Paget is a perfect example of how we’re continuing to bring our investors opportunities that suit their needs.”
