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Mulgrave Corporate Park

A two hectare business park is located in the eastern suburb of Mulgrave, 25 kilometres from Melbourne CBD. The site enjoys good access to the Monash Freeway and arterial roads, Springvale Road, Wellington Road and Ferntree Gully Road. The business park is fully leased and accommodates the Kmart Australia head office as well as Coles Group and Toll Transport.

Location: Melbourne South East, VIC
Acquisition date:Apr 2016
Ownership/Title:100%/Freehold
Cost including additions:$92.8 million
Last Independent Valuation
Date:Dec 2016
Valuation:$92.0 million
Valuation $/m2:$4,372/m²
Capitalisation rate:7.00%
Discount rate:8.00%
Lettable area:21,043 m²
Site area:2 ha
Weighted average lease expiry:6.6 years
Major TenantsGLA m2
Toll Holdings Pty Ltd2,668
Coles Group Ltd2,482
Kmart Australia Ltd15,626