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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

The property was purpose-built in 2002 and was progressively extended in five stages up to 2009. It comprises two freestanding warehouses with high-clearance and multiple loading bays. Two offices are attached to the warehouses and truck and car parking is provided. The property has dual access to the front and rear.

Asset summary
as at 31 December 2020
Title
Leasehold
Site area
75,325 sqm
Lettable area
44,424 sqm
Occupancy
100 %
WALE (by income)
3.5 years
Major tenant
Australia Post
Valuation summary
Book value
$ 34.0 m
Valuation date
31-Dec-20
Cap rate
8.25 %
Discount rate
6.50 %
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

The property was purpose-built in 2002 and was progressively extended in five stages up to 2009. It comprises two freestanding warehouses with high-clearance and multiple loading bays. Two offices are attached to the warehouses and truck and car parking is provided. The property has dual access to the front and rear.