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Altona Distribution Centre

This distribution centre comprises of three modern warehouse and distribution facilities located with good access to the port and Western Ring Road. 11-25 Toll Drive is leased to Seaway Logistics until 2026. 32-54 Toll Drive and 56-60 Toll Drive are also fully leased.

Location: West Melbourne, Vic
Acquisition date: Sep 2006
Ownership/Title: 100%/Freehold
Cost including additions: $68.6 million
Last Independent Valuation
Date: Dec 2015 and Jun 2017*
Valuation: $58.2 million
Valuation $/m2: $1,007/m²
Capitalisation rate: 6.25-7.25%
Discount rate: 7.50-7.75%
Lettable area: 52,448 m²
Site area: 13 ha
Weighted average lease expiry: 4.4 years
Major Tenants GLA m2
Toll Holdings Limited 18,727
Deliver Group Pty Ltd 17,577
Seaway Logistics 16,144
  • * Excludes hardstand and vehicle storage and reflects 100% interest. NLA refers to Business Parks only.