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Toll Business Park, Altona

Toll Business Park comprises three modern warehouse and distribution facilities. 11-25 Toll Drive has recently been leased to Seaway Logistics for 10 years and is undergoing a major refurbishment. 32-54 Toll Drive and 56-60 Toll Drive are both fully leased.

Location: West Melbourne, Vic
Acquisition date: Sep 2006
Ownership/Title: 100%/Freehold
Cost including additions: $67.2 million
Last Independent Valuation
Date: Dec 2015 and Jun 2016*
Valuation: $49.6 million
Valuation $/m2: $946/m2
Capitalisation rate: 6.75-7.25%
Discount rate: 8.25%
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.com.au 17,577
Seaway Logistics 16,144
Footnotes
  • * 11-25 Toll Drive was valued in June 2016