APN Funds Management buys Queensland warehouse

11Sep

APN Funds Management buys Queensland warehouse

 

APN Funds Management (ASX:ADI), as Responsible Entity and Manager of APN Industria REIT is pleased to announce the acquisition of Queensland warehouse for $18.34 million, representing an initial yield of 8 per cent.

The property is occupied by Vesco Foods for a remaining term of 9.4 years, and benefits from annual reviews of 3.5 per cent or CPI (whichever is higher), and a triple-net lease structure (excluding land tax).

Vesco was founded in 1974 and is a leading manufacturer of ready-made meals.

Brands it owns or licences include Lean Cuisine, On the Menu, Super Natural and Annabel Karmel; and its key clients include Woolworths, Coles, IGA, Aldi, a variety of restaurant chains, as well as food-service companies.

Shares in APN Funds Management (ASX:ADI) are trading 1.04 per cent higher at $2.91.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

29Aug

AI company Appen see impressive revenue growth

29 Aug 2019 - Appen (ASX:APX) says its half-year statutory profit rose 33 per cent to $18.6 million with revenue up 60 per cent to $245.1 million.

Read More
23Sep

PolyNovo (ASX:PNV) appoints distributor for Finland

23 Sep 2020 - PolyNovo (ASX:PNV) is excited to announce the appointment of Innova Medical Oy, in Helsinki, to sell NovoSorb® BTM in Finland.

Read More
26Jun

Evolve Education (ASX:EVO) reports $13.3M loss

26 Jun 2020 - Evolve Education Group (ASX:EVO) has reported EBITDA of $8.2 million for the financial year ended 31 March 2020.

Read More
15Nov

ResApp Health (ASX:RAP) grants Sanofi an option to licence startup outcomes

15 Nov 2019 - Digital health company ResApp Health (ASX:RAP) has penned an agreement which grants Sanofi an exclusive license to use the outcomes generated under the Startup Creasphere incubator program.

Read More
24Sep

Air New Zealand inks deal for eight Boeing 787-10 Dreamliner airplanes

24 Sep 2019 - Air New Zealand (ASX:AIZ) has today announced it has signed contracts to buy eight Boeing 787-10 Dreamliner airplanes.

Read More
02Feb

Stocks of the Hour: Splitit, European Metals Holdings, Imugene, Alchemy Resources

02 Feb 2023 - A snapshot of the stocks on the move featuring Splitit (ASX:SPT), European Metals Holdings (ASX:EMH) and Alchemy Resources (ASX:ALY).

Read More
07Apr

DroneShield (AX:DRO) receives $1.1 million order from a Five Eyes government

07 Apr 2021 - UAS (unmanned aerial systems) technology developer DroneShield (ASX:DRO) has secured another government contract to provide drone security solutions to one of the Five Eyes countries (United States, Canada, Australia, the United Kingdom, and New Zealand).

Read More
15Feb

Stocks of the Hour: Seven West Media, Seek & GWA Group

15 Feb 2022 - A snapshot of the stocks on the move, featuring Seven West Media (ASX:SWM), Seek (ASX:SEK) & GWA Group (ASX:GWA).

Read More
12Dec

Downer (ASX:DOW) wins $520m Logan City Council contract

12 Dec 2019 - Downer EDI (ASX:DOW) has won a five-year contract, valued at approximately $520 million, to plan, design and deliver water and wastewater infrastructure for Logan City Council (LCC).

Read More
31Mar

DNR Capital: Reporting season wrap-up

31 Mar 2023 - Hear the latest from DNR Capital Chief Investment Officer and PM of the Australian Equities High Conviction Strategy Jamie Nicol as he provides his thoughts on the recent reporting season and where he sees market opportunities in its wake.

Read More