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Somerton Distribution Centre

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
Date:Jun 2018
Valuation:$61.5 million
Valuation $/m2:$862/m²
Capitalisation rate:6.75-7.25%
Discount rate:7.00-7.75%
Lettable area:71,341 m²
Site area:16.0 ha
Weighted average lease expiry:4.7 years
Acquisition date:Sep 2006/Jul 2006
Ownership/Title:100%/Freehold
Cost including additions:$67.1 million
Major TenantsGLA m2
Toll Holdings Limited31,185
Mainfreight Distribution18,826
Integrated Packaging Australia10,689
Super Amart Pty Ltd10,617