Viridian Glass has offloaded its headquarters and factory in Melbourne’s south-east to a Charter Hall managed fund in a $100 million sale and leaseback deal.
The 20 hectare plant in Dandenong South is the sole remaining site where glass is still manufactured in Australia. Viridian will continue to occupy the property on an eight-year triple net lease, with fixed 3 per cent annual rent reviews.
The acquisition increases Charter Hall Prime Industrial Fund’s (CPIF) weighting to Sydney and Melbourne’s industrial markets to 64 per cent.
Viridian’s site has 77,124 square metres of gross leasing area, multiple warehouses, an office, small cold store, drive around truck access and multiple parking areas.