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Location
The property is located within Melbourne Airport Business Park, an industrial precinct, approximately 16 kilometres north of the Melbourne CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways. It has easy access to the Western Ring Road, Tullamarine Freeway and Calder Highway.
Description
Constructed in 2006, the property comprises a warehouse and a two-level office complex.
Asset summary
as at 30 June 2020
Title
Leasehold
Site area
51,434 sqm
Lettable area
26,517 sqm
Occupancy
100 %
WALE (by income)
7.0 years
Major tenant
The Workwear Group
Valuation summary
Book value
$ 17.5 m
Valuation date
30-Jun-20
Cap rate
8.00 %
Discount rate
6.75 %
Location
The property is located within Melbourne Airport Business Park, an industrial precinct, approximately 16 kilometres north of the Melbourne CBD. The location is sought after due to its close proximity to the airport and surrounding key roadways. It has easy access to the Western Ring Road, Tullamarine Freeway and Calder Highway.
Description
Constructed in 2006, the property comprises a warehouse and a two-level office complex.