MHD NEWS
Sydney warehouse bought for more than $200 million
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60,000 sqm warehouse leased to Fantastic Furniture and DB Schenker has set a new benchmark in Australia after being acquired by Centuria Industrial REIT (CIP) for $200.2 million on a yield of 3.6 per cent. The record low return eclipsed the 3.62 per cent yield for a 35,000 sqm Best & Less distribution centre, which AMP Capital sold to a Lendlease investment platform for $130.1 million in May. Prime logistics assets in Sydney and Melbourne are now regularly trading on sub 4 per cent yields amid the surge in online shopping during the pandemic, which has increased demand for warehouse space. Centuria’s acquisition of the 60,223 sqm Fantastic Furniture and DB Schenker facility in Fairfield in Sydney’s west was struck at a 48 per cent premium to the facility’s December book value of $135 million. The deal raised CIP’s portfolio of industrial properties to $3.5 billion. Ross Lees, Centuria’s Head of Funds Management, said the group’s growth strategy was specifically focused on
Centuria’s purchase was on a low yield of 3.6 per cent. “metropolitan infill sites that are catered to the last mile logistics sector. “The pandemic has been a catalyst for domestic online shopping, and we believe there is further growth to come across Australasia,” Ross says.
CIP will partially fund its latest acquisition spree – the fund acquired almost a $1 billion of assets in the 2021 financial year – through a $300 million institutional equity raising alongside a $25 million unit purchase plan.
Amazon to add Australian workers for festive season
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mazon Australia has announced plans to onboard 1000 seasonal workers at its fulfilment centres around the country for the holiday season. The company is looking for workers with a range of experience and skill levels to help pick, pack and ship orders over the festive season. These are new seasonal job opportunities that provide extra income during the holiday season, offering Australians the opportunity to earn competitive pay in a safe and supportive work environment. These seasonal opportunities can also present a path to employment 6 | MHD NOVEMBER 2021
with, and a longer-term career at, Amazon. Amanda Hadaway’s career at Amazon began with a seasonal position at Amazon’s Brisbane fulfilment centre packing customer orders. She was offered a permanent role and promoted and is now a Process Assistant. “The potential for growth is so big and it’s a great environment which makes the time fly,” Amanda says. “It is enjoyable and also really rewarding to know customers are getting their orders on time.” Craig Fuller, Director of Operations, Amazon Australia says the opportunities come at a time when they are needed most.
“There are opportunities for motivated, enthusiastic people from all backgrounds and we look forward to welcoming them to our sites around Australia as we head into the holiday period,” Craig says. The announcement of seasonal jobs follows a year of job creation across Amazon’s Australian operations network, including the creation of more than 600 new permanent roles at Amazon sites in 2021. Amazon has five fulfilment centres and 12 Amazon Logistics sites operating in Australia, with sites in Sydney, Newcastle, Melbourne, Perth, Brisbane and the Gold Coast.
