Skip to content
Finance Investment, Property Real Estate

Westbridge’s Total Return Fund acquires fully-leased refrigerated logistics facility in Brisbane

Westbridge Funds Managment 3 mins read

Perth (6th September 2023): Leading Western Australian property fund manager – Westbridge Funds Management, has expanded the holdings of its Westbridge Total Return Fund with the $6.17 million acquisition of a fully-leased refrigerated logistics facility in Lytton, Queensland.

The sale was brokered by Gary O’Shea, Managing Director of Brisbane-based real estate agency, Blue Commercial.

The 2,440 sqm site located at 160 Benjamin Place has a gross lettable area of 1,530 sqm, comprising a cold storage facility and modern dual level corporate office.

The facility is located within the prime Australian TradeCoast precinct of Lytton on the doorstep of the Port of Brisbane, and is fully leased to wholesale distributor Sunshine Seafoods, who have successfully operated out of the property for over 10 years.

Mr Simon Worth, Head of Capital Transactions, Westbridge Funds Management, said, “Lytton is one of Brisbane’s most sought-after industrial suburbs due to its convenient access to the Brisbane CBD, Port of Brisbane and major trade routes. At the same time, there’s currently a market-wide shortage of available refrigerated logistics facilities which has driven vacancy rates in this sub-market to historical lows.”

“With strong tenant demand and consecutive periods of rental growth, the property presents an opportunity to capture significant rental and value uplift in the medium term,” Mr Worth explained.

“In addition, the current lease benefits from uncapped CPI rent review mechanisms, which provides good potential to capitalise on strong forecast short-term inflation.”

The Lytton property is the second acquisition made by the Westbridge Total Return Fund following the purchase of the Hampstead Hotel and adjacent First Choice Liquor store in Collinswood, SA in March 2023.

The Hotel was sold by Coles Group and is leased to Queensland Venue Co., a joint venture between Coles Group and Australian Venue Co.

Blended growth and income strategy

The Westbridge Total Return Fund aims to acquire up to $100 million in commercial assets with value-add and income potential over a target four-year timeframe, with potential properties spanning across the industrial, retail, hospitality, medical, and office sectors.

Mr Damian Collins, Chairman of Westbridge Funds Management, said, “We are delighted with this latest investment for the Westbridge Total Return Fund, and believe it is another fantastic asset to support the Fund’s growth and income strategy.” 

The Westbridge Total Return Fund has a mandate to target commercial properties across two key categories.

This includes value-add assets with potential to re-set value in the near-term through capital improvement or leasing, and “income-plus” assets with medium to longer-term rental income in place and opportunities to reposition over time.  

Mr Collins explains, “This dual-focused approach seeks to meet investor demand for opportunities that aim to deliver sought-after capital growth while still enabling robust, ongoing income through strong underlying tenancies and income-based opportunities.”

Both of the assets purchased to date offer immediate income streams through the underlying tenancies, with potential for medium-term capital uplift through capital improvements, and/or re-leasing, in the case of the Lytton property.


Key Facts:

Westbridge’s Total Return Fund has settled on a fully-leased refrigerated logistics facility in the prime Australian TradeCoast locality of Lytton near the Port of Brisbane.

The property is fully leased to Sunshine Seafoods, a wholesale seafood distributor. 

The asset marks the second acquisition for the Westbridge Total Return Fund following the purchase of the Hampstead Hotel and adjacent First Choice Liquor store in South Australia.

 


About us:

Westbridge Funds Management has been helping investors grow their wealth through managed property funds for more than 20 years. Applying a unique research-driven and investor-first approach, Westbridge provides access to a range of unique commercial and residential property investment opportunities that are focused on generating long-term outperformance.

Westbridge Funds Management manages over $850 million of commercial and residential property funds and 20+ residential development projects. The company specialises in property acquisition, commercial and residential funds management, commercial property management and multi-unit residential developments.


Contact details:

 

Meg Collings - Media Coordinator

Phone: 0432 610 742

Email: [email protected]

 

Media

More from this category

  • Finance Investment
  • 24/04/2025
  • 21:40
AxiTrader Limited

Axi Delivers Unbeatably Tight Spreads on Key Markets Including Gold, Crypto, and Forex

SYDNEY, April 24, 2025 (GLOBE NEWSWIRE) -- Axi, a leading global online trading broker, is proud to announce its latest commitment to industry-leading pricing with some of the most competitive spreads in the market. Traders can now access spreads as tight as $0.15 on Gold, $15 on Bitcoin, and just 0.7 pips on EUR/USD—making Axi a top choice for retail and professional traders alike.Since its inception in 2007, Axi has built its reputation on a foundation of transparency, speed, and client-focused service. The broker continues to uphold this mission by offering exceptional trade execution, with latency as low as 29…

  • Finance Investment, Political
  • 24/04/2025
  • 17:08
Super Members Council

SMC welcomes commitment to eradicate financial abuse from super

The Super Members Council welcomes today’s election commitment by the Coalition to eradicate financial abuse from the superannuation system. SMC wrote to all parties and candidates ahead of the election seeking their formal commitments to support specific law reform so family violence perpetrators can no longer inherit their victim’s super. “The Coalition recognises this problem and, if elected to Government, will work with stakeholders to best address the matters raised in this recommendation,” it has pledged in a formal response to SMC. In a broader policy announcement today on family violence prevention, it vowed to “strengthen Commonwealth taxation, welfare and…

  • Contains:
  • Finance Investment
  • 24/04/2025
  • 16:55
Bitget Limited

Bitget Upgrades Liquidity Incentive Program with Top-Tier Maker Rebate for Institutional Traders

VICTORIA, Seychelles, April 24, 2025 (GLOBE NEWSWIRE) -- Bitget, the leading cryptocurrency exchange and Web3 company, has announced a major upgrade to its Liquidity Incentive Program, set to take effect on May 1, 2025. The revamped program introduces a more competitive fee structure, enhanced rewards, and expanded coverage for both spot and futures markets. This strategic update aligns with Bitget’s commitment in 2025 to serving institutional investors, improving liquidity depth, and trading efficiency across its platform.The upgraded program introduces a tiered system with market-leading fee incentives, including maker rebates of up to -0.012% on spot and -0.005% on futures, and…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.