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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 constructed in 2002, extended in 2009 and comprises two freestanding warehouses with high-clearance and multiple loading bays. Two offices are attached to the warehouses and car parking is provided.

Asset summary
as at 31 December 2019
Title
Leasehold
Site area
75,325 sqm
Lettable area
44,424 sqm
Occupancy
100 %
WALE (by income)
4.5 years
Major tenant
Australian Postal Corporation
Valuation summary
Book value
$ 33.0 m
Valuation date
31-Dec-19
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

The property was constructed in 2002, extended in 2009 and comprises two freestanding warehouses with high-clearance and multiple loading bays. Two offices are attached to the warehouses and car parking is provided.