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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 2002 and progressively extended up to 2009, the property comprises two freestanding warehouses with high-clearance and multiple loading bays, each with adjoining offices. The site has dual access to the front and rear. The property is being upgraded to an automated parcel sorting facility along with other site improvements.
Asset summary
as at 30 June 2021
Title
Leasehold
Site area
75,325 sqm
Lettable area
44,424 sqm
Occupancy
100 %
WALE (by income)
10.0 years
Major tenant
Australia Post
Valuation summary
Book value
$ 38.3 m
Valuation date
30-Jun-21
Cap rate
6.50 %
Discount rate
6.00 %
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 2002 and progressively extended up to 2009, the property comprises two freestanding warehouses with high-clearance and multiple loading bays, each with adjoining offices. The site has dual access to the front and rear. The property is being upgraded to an automated parcel sorting facility along with other site improvements.