Centuria and BGO Close on Joint Investment of $200M Industrial Portfolio

• • Increases Centuria’s institutional capital commitments to c.$2.1 bn¹
  • Off-market acquisitions demonstrate Centuria and BGO’s ability to secure high-quality assets for partners in tightly held markets
  • Domestic urban infill industrial assets continue to outperform wider market, attracting international capital
  • Expands Group’s +$6.2 bn industrial platform, cements Centuria as one of Australia’s largest industrial managers

Australasian real estate funds manager, Centuria Capital Group (ASX: CNI or Centuria), and BGO, a leading global real estate investment manager, complete their joint acquisition of three off-market, Western Sydney warehouses worth $201 million, providing c.45,000 sqm² of prime industrial space within tightly held urban infill markets where vacancy is 2.7%³.

Located at 28 Britton Street, Smithfield; 45 Britton Street, Smithfield; and 17 Stanton Road, Seven Hills; the portfolio benefits from the opportunity to capture strong rental growth.

BGO is a global real estate investment firm with more than $100 billion of assets under management (AUM) and is part of Sun Life Financial. It is supported locally in Australia by Cliffbrook Capital. BGO continues to explore the potential for increasing its exposure to domestic urban infill industrial markets.

Jason Huljich, Centuria Joint CEO, said “We are elated to partner with BGO for the first time and will continue to seek opportunities across tightly-held industrial markets to grow the partnership. This type of institutional partnership speaks to the strong appetite from international capital seeking to harness the strong domestic industrial sector tailwinds, particularly within infill markets which benefit from proximity to households and businesses alike.”

Centuria is appointed Investment Manager and Property Manager and will hold a five per cent interest in the portfolio.

Jesse Curtis, Centuria Head of Funds Management, added “This Western Sydney portfolio again illustrates Centuria’s ability to secure rare, off-market quality assets for our institutional partners. With Australia’s burgeoning population increasing demand from the industrial and logistic sector, coupled with limited new supply within infill markets, we believe macroeconomic tailwinds for the sector will persist throughout the medium term. These factors bode well for our institutional partners as well as Centuria securityholders.

“Significantly, the assets provide an opportunity to capture strong positive rental growth within the near term. The properties also offer repositioning optionality. These factors complement Centuria’s strong track record for delivering value-add opportunities through our proactive, inhouse assets management capabilities.”

To date, Centuria manages a total c.$2.1 billion through institutional partnerships.

Smithfield and Seven Hills are well-established industrial infill markets with excellent access to major road networks and residential catchments, providing access to 1.5 million and 1.6 million households, respectively⁴.

28 Britton Street, Smithfield is a highly functional c.13,000 sqm warehouse and distribution facility featuring a high clearance warehousing, modern office, container rated yard, two on-grade roller doors and 11 recessed docks, and 58% site coverage.

45 Britton Street, Smithfield is a c.17,000 sqm A-grade warehouse and distribution facility featuring high internal clearance, an ESFR sprinkler system, six on-grade and five recessed roller doors, 500 sqm weatherproof awning and 60% site coverage.

17 Stanton Road, Seven Hills features two industrial buildings totalling 15,830 sqm across eight tenancies, ranging between 1,600 sqm and 3,000 sqm. Units feature high internal clearance and multiple on-grade roller doors. Site coverage totals 55%.

Centuria is one of the largest industrial landlords across Australasia with more than 160 assets exceeding $6.2 billion¹.

CBRE’s Chris O’Brien, Jason Edge and Shaun Timbrell and Colliers’ Trent Gallagher and Gavin Bishop acted on the transaction.

1. As at May 2025
2. Area by Gross Lettable Area (GLA)
3. Source: CBRE Research Sydney Central West 2H24 Industrial Vacancy
4. Source: SA1