Why we chose it: Brix took the opportunity to work with joint venture partner, Costa Asset Management, to purchase a well-located industrial site with extensive street frontages and within close proximity of public transport.

‍Our process: Following extensive negotiations with the vendor, a favourable triple net leaseback was agreed on for a period of three years with a well-regarded tenant. This will provide holding income while future development is finalised for the site.

The outcome: Options for the site include retention as an income-producing passive asset, repositioned income-producing asset or a redevelopment opportunity.