Natgen in $4.5m purchase

Brisbane property fund manager Natgen has bought a Gold Coast self-storage site for $4.5m for its latest property trust. The fund manager’s Natgen Development Trust ML23, will develop a high specification, state-of-the-art self-storage building and facility at 2 Industrial Ave, Molendinar. On a 4,520 sq m site, the building will house more than 5,250 sq m of self-storage units, with an office/retail space, parking, security and landscaping. The acquisition follows its previous investment in Gold Coast self-storage at Upper Coomera, with last year’s $10m Natgen Development Trust UC22 closing fully subscribed.