$157m deal for major beverage plant proceeds with Clayton Utz advice

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Clayton Utz is advising Charter Hall on its $157m acquisition and leaseback of the main manufacturing plant of an iconic soda brand in Queensland.

The firm is acting for Charter Hall’s unlisted Prime Industrial Fund on the major acquisition from Coca-Cola Amatil. The beverage giant has also agreed to a 20-year leaseback, which offers Charter Hall exposure to a buoyant fixed annual rental income cashflow, Clayton Utz said.

The 24.9-hectare site, which is in Richlands, houses a 50,414sqm warehouse and manufacturing facility, which is currently being renovated with the latest automation systems and being expanded to 81,000sqm. The deal for the facility, which will be updated and expanded until the end of the year, expected to close this December.

Partner Matt Anderson leads Clayton Utz’s team, which includes special counsel Eva Oraham and senior associate Sabrina Buck.

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