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20-50 and 76-82 Fillo Drive and 10 Stubb Street, Somerton

The property consists of three warehouse facilities with adjacent boundaries. 20-50 Fillo Drive is a 31,000 sqm distribution facility with good clearance and multiple loading points. 10 Stubb Street is located on the same title and comprises a modern distribution facility consisting of a two-level office and warehouse, drive around access and multiple loading points. 76-82 Fillo Drive is a modern industrial building with loading docks, functional awning areas and future expansion potential.

Location: North Melbourne, Vic
Acquisition date: Sep 2006/Jul 2006
Ownership/Title: 100%/Freehold
Cost including additions: $65.1 million
Last Independent Valuation
Date: Dec 2015
Valuation: $44.1 million
Valuation $/m2: $618/m2
Capitalisation rate: 8.25%
Discount rate: 8.25%
Lettable area: 71,326 m2
Site area: 16 ha
Weighted average lease expiry: 3.9 years
Major Tenants GLA m2
Toll Holdings Limited 30,278
Yakka Pty Ltd 18,822
Integrated Packaging Group 10,702
Mainfreight Distribution 10,617
Super Amart Pty Ltd 10,617