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Somerton Distribution Centre, Somerton

The property consists of three warehouse facilities with adjacent boundaries. 20-50 Fillo Drive, a 31,000 sqm warehouse, 10 Stubb Street, a modern 21,000 sqm distribution facility and 76-82 Fillo Drive, a modern 19,000 sqm industrial building with future expansion potential. The asset is fully leased.

Location: North Melbourne, Vic
Acquisition date: Sep 2006/Jul 2006
Ownership/Title: 100%/Freehold
Cost including additions: $66.5 million
Last Independent Valuation
Date: Dec 2016
Valuation: $51.2 million
Valuation $/m2: $718/m²
Capitalisation rate: 7.50-7.75%
Discount rate: 7.50-7.75%
Lettable area: 71,313 m²
Site area: 16.0 ha
Weighted average lease expiry: 2.9 years
Major Tenants GLA m2
Toll Holdings Limited 31,185
Yakka Pty Ltd 18,822
Integrated Packaging Australia 10,689
Super Amart Pty Ltd 10,617