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72-76 Cherry Lane, Laverton North

This property is a large single tenanted industrial facility located in Melbourne’s western industrial precinct, 18 kilometres from the Melbourne CBD. The 10 hectare site has a large warehouse with significant container-rated hardstand and is leased to Toll Group. There is scope for further redevelopment in the future due to low site coverage.

Location: West Melbourne, Vic
Acquisition date:Feb 2015
Ownership/Title:100%/Freehold
Cost including additions:$31.2 million
Last Independent Valuation
Date:Dec 2017
Valuation:$31.5 million
Valuation $/m2:$1,537/m²
Capitalisation rate:6.50%
Discount rate:7.25%
Lettable area:20,500 m²
Site area:10 ha
Hardstand:45,000 m²
Weighted average lease expiry:3.0 years
Major TenantsGLA m2
Toll Holdings Limited20,500