APN Fund Management Sells Australian Self-Storage Property

A property leased to Australian self-storage company National Storage was sold by APN Fund Management Ltd. to a Gold Coast investor for $3.85 million.

A property leased to Australian self-storage company National Storage was sold by APN Fund Management Ltd. to a Gold Coast investor for $3.85 million. APN acquired the Tweed Heads South industrial property in 2006 for $3.3 million.

National still has 12 years remaining on its 15-year lease at a rate of approximately $349,000 a year. The property has 308 storage units, a manager's residence, an administration and office area, full perimeter fencing, and three entry points.

Colliers International Gold Coast industrial director Pat Cavanagh brokered the sale of the property.

Source:Goldcoast.com,  Tweed Storage Depot Tops Sales for Year  

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