11 January 2023
UniSuper, the $115 billion superannuation fund has secured a highly sought-after 13 hectare industrial property at 1-7 Cawley Road Yarraville, Victoria for $105 million.
The acquisition was facilitated by real estate investment management firm Richmond Bridge, as part of a new advisory mandate to over time build an industrial property portfolio across major Australian capital cities.
The Yarraville site is a rare infill redevelopment opportunity in a prime industrial market close to the Port of Melbourne. It’s expected to benefit significantly from nearby major projects including the West Gate Tunnel and the Fishermans Bend Urban Renewal project.
Nick Stephens, Senior Manager Property at UniSuper said:
Richmond Bridge will provide investment and asset advisory services for the Yarraville asset and HB&B Property will provide development management services. The relationship with Richmond Bridge and its affiliate HB&B Property enhances UniSuper’s access to attractive investment opportunities and development capability across the Australian industrial market.
Pete Wylie, founding partner and CIO of Richmond Bridge said:
Kurt Beckhaus, Managing Director of HB&B Property said:
CBRE’s Mark Granter and Chris O’Brien, along with Chris Jones from Dawkins’ Occhiutto brokered the transaction.
For more information
UniSuper Media and PR Lead
T: 0422 463 227
Pete Wylie – Richmond Bridge
T: +61 477 309 659
Note to editors*
UniSuper is one of Australia’s largest superannuation funds and is run solely for the benefit of its members. For forty years, UniSuper has been managing super for people employed in the higher education and research sector, and as of 2021 opened the fund to all Australians. UniSuper currently invests over $115 billion on behalf of over 600,000 members.
Please note past performance is not an indicator of future performance. The information provided above is of a general nature only and does not take into account your individual objectives, financial situation or needs.
*As at December 2022.
About Richmond Bridge:
Founded in 2022, Richmond Bridge is an Australian real estate investment management and advisory firm focused on providing investors with access to best-in-class specialist real estate capability catering to the current and future investment objectives of institutional investors.