Andrew Forrest’s Tattarang will part with a portion of its stake in the Roe Highway Industrial Park in a deal believed to be worth up to $300 million.
Andrew Forrest’s Tattarang has sold a portion of its stake in the Roe Highway Industrial Park as part of a deal estimated to be worth up to $300 million.
Tattarang company’s property arm Fiveight partnered with Adrian Fini and Ben Lisle's Hesperia and Gibb Group to develop the $500 million large-scale industrial estate, becoming its most significant investor.
The integrated, rail-side park on the corner of Roe Highway and Welshpool Road spans 72 hectares and was officially launched in 2019.
Rumours have been swirling for several months that Fiveight was seeking to offload its interest in the estate.
Business News now understands it has sold a portion of its stake, maintaining some interest in the park.
It is not yet clear what assets Tattarang’s property arm has retained, but the deal is understood to be valued at between $250 million to $300 million.
The move comes just two months after the Andrew and Nicola Forrest-backed developer purchased Carillon City from Dexus for $80 million, confirming major development plans for the site.