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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 the Toll Group until 2020. 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: $31.0 million
Last Independent Valuation
Date: Dec 2015
Valuation: $31.7 million
Valuation $/m2: $1,546/m3
Capitalisation rate: 7.00%
Discount rate: 8.25%
Lettable area: 20,500 m2
Site area: 10 ha
Hardstand: 45,000 m2
Weighted average lease expiry: 4.5 years
Major Tenants GLA m2
Toll Holdings Limited 20,500