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1090-1124 Centre Road, Oakleigh South

The property is well located in Melbourne’s south-eastern suburbs, 17 kilometres from the Melbourne CBD. The eight hectare site is situated on a prominent main road location and is currently undergoing a substantial development. A new 10,702 sqm building for Specialty Packaging has recently been completed in June 2016, with a further 8,300 sqm currently under construction.

Location: South Melbourne, Vic
Acquisition date: Feb 2007
Ownership/Title: 100%/Freehold
Cost including additions: $60.0 million
Last Independent Valuation
Date: Dec 2012
Valuation: $31.8 million
Valuation $/m2: $710/m2
Capitalisation rate: 9.25%
Discount rate: 10.00%
Lettable area: 44,814 m2
Site area: 8 ha
Weighted average lease expiry: 4.6 years
Major Tenants GLA m2
Avery Dennison 7,470
Amcor 6,846
Specialty Packaging Group Pty Ltd 22,209