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Centennial Metro
Industrial Fund
Access a sector with Sustained Growth and Strong Fundamentals
The Centennial Metro Industrial Fund (CENMIF) provides wholesale investors with access to a high quality, income producing portfolio of metro industrial & logistics (Metro I+L) assets located in land constrained metropolitan markets across Australia.
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Centennial is a leading, independent Australian property investment manager and developer.
as seen in
$2.8bn
15
68
~20%
* As of 1 May 2026
weighted average fund
irr for sold properties
assets
years in business
assets under management
WHY INVEST?
Key Features
Attractive risk-adjusted return profile
Metro I+L is supported by strong fundamentals
Active strategy with focus on value-add and total returns
Institutional risk management framework
Centennial is an experienced and specialist Metro I+L manager, with a strong track record
Key Features
WHY INVEST?
METRO I+L
What is Metro Industrial + Logistics?
Centennial is a first mover in the Metro I+L market, identifying a segment of the market that is fragmented and underserviced to both tenants and capital markets, providing stronger risk-adjusted returns to the broader industrial and logistics market. Centennial defines Metro I+L by:
Asset Value
$10m to $75m
Tenancy Sizes
1,000 to 10,000 sqm
Located in metro
locations
Investment Highlights
Metro I+L has sustained fundamentals, outperforming the broader I+L market with a low 2.8% vacancy and stronger 4.8% rental growth.
A well diversified portfolio of high-quality assets ($500m GAV target in initial 2 years) providing enhanced returns.
Secure income profile underpinned by 100% occupancy, 3.1 years WALE, 11 tenants and 94% to global and national tenants.
Flexible Fund structure allowing for efficient capital allocation and liquidity via periodic windows.
Centennial is an industry leading real estate manager with a long-term track record and 20% IRR on realised assets since inception.
Access a sector with Sustained Growth and Strong Fundamentals
Access a sector with Sustained Growth and Strong Fundamentals
METRO I+L
Fund Strategy
1,000 to 10,000 sqm tenancies
$10m to $75m asset value*
ASSET SIZE
Inner ring and supply-constrained markets
High population growth areas
LOCATION
Overlooked by institutional investors
Focus on off-market transactions
REDUCED COMPETITION
ATTRACTIVE PRICING
Higher underlying land values
Greater ability to increase rents
Less sophisticated vendors
TENANT PROFILE
Global and national occupiers
Embedded demand
CENMIF
Investment Overview
The Fund provides investors with the opportunity to gain exposure to the Australian Metro I+L sub-sector via a multi-asset portfolio.
Strong Sector Fundamentals
Strong Risk-Adjusted Return Profile
The Metro I+L segment of the industrial sector is supported by strong value drivers including structural shifts in consumer behaviours and distribution networks, high levels of population growth, and an increasing scarcity of land in infill markets.
Targeting sustainable quarterly income distributions and long-term capital growth via a blended portfolio of assets offering attractive relative pricing.
High Quality Industrial Assets
About The Manager
Centennial has a proven track record, with a current portfolio of $2.8bn across office, industrial, retail and mixed-use sectors.
We have built a specialist metro industrial + logistics platform focusing on the Metro Industrial + Logistics market with in excess of ~$1.7bn of assets under management and a robust development pipeline.
We invest alongside our investors, with an average Internal Rate of Return (IRR) across sold assets of ~20%.
A demonstrated hands-on-approach with a dedicated on the ground team, to actively manage our assets, enhancing our tenant customer experience and adding long-term value for our investment partners.
Centennial Metro Industrial Fund
Portfolio Metrics
PORTFOLIO SUMMARY
Investment Approach
Strategic Intent
We are active property investment specialists, looking for unique opportunities where we can unlock value.
Deal Flow
Centennial has an above average level of off-market deal flow. We take a systematic approach to finding and completing deals.
Risk Assessment
Identifying and managing risk is a priority for Centennial. We apply a rigorous approach and are continually improving our risk culture.
Active Management
Asset management remains inhouse so we are accountable. Our team are on the ground, working closely with tenants and vendors.
Access a sector with Sustained Growth and Strong Fundamentals
OUR TEAM
Executive Committee
One of Australia’s forefront property investment managers with a specialist team that has a proven track record of execution across transactions, asset, development and project management of properties in Sydney, Melbourne, Brisbane and Adelaide. We are trusted by our capital partners comprising global investment managers, private clients, family offices and wealth managers.
CEO
Paul Ford
CFO / COO
Matt Knox
Executive Chairman
Jonathan Wolf
Head of Capital
Alex Edwards
Head of Funds Management
David Cupit
Executive Director - Private Wealth
Lyle Hammerschlag
Portfolio Summary
3 assets
3.1 years
WALE
100%
Occupancy
$138.25m
GAV Post-Acquisition
CENTENNIAL METRO INDUSTRIAL FUND
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Access a sector with Sustained Growth and Strong Fundamentals
Thank you for your interest in Centennial.
Fill in your details below to receive the Investor Pack.
Please note that we are only able to accept investors who are ‘Wholesale Clients’ under the Corporations Act 2011 (Cth).
Limited Allocations Available
Centennial Metro Industrial Fund
METRO I+L
Why Metro I+L vs traditional industrial?
Metro I+L refers to industrial and logistics assets with typical tenancy sizes between 1,000–10,000 sqm, located in land-constrained, infill markets near major population centres. These assets are often overlooked by larger investors due to their smaller scale and management intensity, but they offer compelling fundamentals.
Focus on an underserviced, niche segment of the I+L market catering for tenancies between 1,000 to 10,000 sqm and gross asset values of $10m–$75m.
The Fund’s objective is to provide secure, sustainable income, and strong risk adjusted total returns via a carefully curated portfolio of Metro I+L properties through the spectrum of core, core plus, value add and development opportunities.
Each property is regularly assessed for its income outlook and strategic value, and properties will be acquired subject to meeting the Fund's investment criteria.
Currently the portfolio comprises three Centennial managed, metro I+L properties located in Australia.
Portfolio Quality & Diversification
Seeking to provide access to a high-quality national portfolio diversified through geography, asset size, tenant mix and industry, and lease expiry profile.
Experienced Manager With a Proven Track Record & Strong Alignment
Centennial is an established, specialist Metro I+L manager with a highly experienced, on-the-ground national management team with a proven track record. Centennial and its senior executives are co-investing in the Fund.
FUND OPEN
13.0%
Target IRR
5.0% p.a.
DISTRIBUTION YIELD
Target, Paid Quarterly
Target fund size
Within Initial Two-Years
$500m
Access a sector with Sustained Growth and Strong Fundamentals
Centennial Metro
Industrial Fund
Access a sector with Sustained Growth and Strong Fundamentals
The Centennial Metro Industrial Fund (CENMIF) provides wholesale investors with access to a high quality, income producing portfolio of metro industrial & logistics (Metro I+L) assets located in land constrained metropolitan markets across Australia.
DOWNLOAD INVESTOR PACK
FUND OPEN
13.0%
Target IRR
DISTRIBUTION YIELD
5.0% p.a.
Target, Paid Quarterly
Target fund size
$500m
Within Initial Two-Years
Centennial Metro
Industrial Fund
Asset Value
$10m to $75m
Tenancy Sizes
1,000 to 10,000 sqm
Located in metro
locations
Portfolio Summary
OUR TEAM
Executive Committee
One of Australia’s forefront property investment managers with a specialist team that has a proven track record of execution across transactions, asset, development and project management of properties in Sydney, Melbourne, Brisbane and Adelaide. We are trusted by our capital partners comprising global investment managers, private clients, family offices and wealth managers.
Strong tenant demand low vacancy (~2.8%)
100% leased portfolio immediate income
Centennial is an industry leading real estate manager with a long-term track record and 20% IRR on realised assets since inception.
CENTENNIAL METRO INDUSTRIAL FUND
Why this fund?
$100k
minimum investment
Open-Ended
structure
Periodic
liquidity
40-50%
gearing
Reduced competition: too large for privates and overlooked by institutional investors due to scale
Primarily acquired off-market: proving access to a select few groups
Result: Attractive relative pricing
Most active leasing market with strongest demand
Limited to new supply
Located within established, inner-ring, infill and land constrained markets
Competing against obsolete stock
Close to high population growth areas
Less supply due to limited availability of land
Higher underlying land values
Centennial specialises in industrial and logistics, commercial, retail and boutique residential property. We acquire, develop and actively manage real estate assets that generate long-term value for our investors and customers.
Asset Size
Location
Reduced Competition
Attractive Pricing
Tenant Profile
Located within established, inner ring, and supply-constrained markets, often close to CBDs or major infrastructure hubs, competing against obsolete stock.
Pricing for Metro I+L remains compelling relative to other sectors and sub-sectors with higher underlying land values providing greater capital protection.
Compared to the broader industrial and logistics sector, Metro I+L assets face less competition from institutional capital due to their size and management intensity. This creates increased buying opportunities and value creation through active asset management, development, and repositioning strategies.
Primarily national and global occupiers requiring last-mile distribution, often preferring professional asset managers, not individual owners, providing a leasing edge.
Access a sector with Sustained Growth and Strong Fundamentals
Premium tenant profile
CENMIF PROPERTY PORTFOLIO
QLD Property | Willawong
QLD Property | Willawong
NSW Property | Prestons
NSW Property | Prestons
SA Property | Salisbury South
SA Property | Salisbury South
Centennial is a leading independent property investment manager focused on unlocking value from mispriced or misunderstood real estate assets
CENTENNIAL
INVESTMENT PLATFORM
Access a sector with Sustained Growth and Strong Fundamentals
Access a sector with Sustained Growth and Strong Fundamentals
Access a sector with Sustained Growth and Strong Fundamentals
DOWNLOAD INVESTOR PACK
INVESTMENT PLATFORM
Investment Approach
CENTENNIAL METRO INDUSTRIAL FUND
Download the Investor Pack
Access a sector with Sustained Growth and Strong Fundamentals
Access a sector with Sustained Growth and Strong Fundamentals
Access a sector with Sustained Growth and Strong Fundamentals
DOWNLOAD INVESTOR PACK
INVESTMENT PLATFORM
Wholesale investors only | limited allocations
Core Property rating: Recommended*
*The Core Property rating (assigned in May 2026) presented in this document has been prepared and issued by Core Property Research Pty Ltd (“Core Property”), which is an Authorised Representative ASIC number 1280479 of Core Property Research Holdings Pty Ltd (ACN 633 170 751, AFS License No. 518320) (Licensee), and trading as Core Property. Whilst the information contained in the report has been prepared with all reasonable care from sources that Core Property believes are reliable, no responsibility or liability is accepted by Core Property for any errors, omissions or misstatements however caused. Past performance information is for illustrative purposes only and is not indicative of future performance. The Core Property publication is not and should not be construed as, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information only. Neither Core Property nor the Participant is aware that any recipient intends to rely on this Report or of the manner in which a recipient intends to use it. The rating is subject to change without notice and Core Property assumes no obligation to update the report.