SYDNEY, Sept. 10, 2025 /PRNewswire/ — Real estate fund manager Irongate Group (“Irongate”) has further added to its Australian industrial and logistics platform with the acquisition of manufacturing facility in Glendenning, NSW.
Located in Power Street, Glendenning the two warehouses are leased to Wire Industries, a leading Australian steel manufacturer, with four years remaining on the lease.
As one of Australia’s most active industrial real estate investors the Glendenning property is the sixth acquisition Irongate has completed in just nine months.
Backed by offshore global investors, the industrial platform has now grown to well over $400 million of industrial and logistics assets across both New South Wales and Queensland. Total AUM for Irongate has now reached close to $1.3 billion. These assets have an on-completion valuation nearing $3.75 billion.
The most recent acquisition, 182 Power Street, Glendenning, comprises two warehouses with a combined NLA of 11,189sqm on a site area of 20,058sqm. The property was acquired for $39.0m.
In line with recent acquisitions, Irongate remains focused on warehouses that are well located, can be acquired below replacement cost and would benefit from Irongate’s on-the-ground active asset management expertise.
The Glendenning asset ticks all these boxes – being in one of Sydney’s premier industrial suburbs, acquired significantly below land and replacement costs and with access to high power supply which is becoming ever scarcer.
Despite increasing demand from investors, Irongate CEO, Graeme Katz, sees no reason that the Group cannot continue to deploy in this highly desirable asset class.
“We have been active in this market for twenty years and benefit from a strong team who is well connected on-the-ground. With a strong track record, we continue to maintain the support from some of the world’s leading real estate investors. We don’t take this support lightly and remain focused on continuing to service our partners,” said Katz.
“We also benefit from a strong balance sheet, through our major shareholder, the JSE-listed Burstone Group. This allows us to be a meaningful co-investor alongside all our partners.”
Burstone Group CEO Andrew Wooler also confirmed his ongoing commitment to the Australian market.
“The Irongate business has continued to perform ahead of expectations, maintaining strong relationships with its core investor base while actively engaging with new capital partners. With the Australian market benefiting from its renowned stability, the performance of the Irongate business is turning out to be a blueprint for our business globally,” Wooler said.
The Glendenning asset was sold by Matthew Flynn and Paul McGlynn from Colliers.
182 Power Street, Glendenning, NSW
About Irongate Group
Irongate Group has its origins as the Investec Group’s Australian and New Zealand property investment and asset management business. Having invested in and managed over A$5bn of assets for the Investec Group, the long-standing management team evolved to become the Irongate Group to continue its growth trajectory. Having built and exited one of Australia’s leading publicly listed real estate investment trusts (REIT), the management team, with the support of Burstone Group, continues to manage capital and assets on behalf of some of the world’s leading investors.
