Office / Warehouse | A-Grade Building | Prominent Location
The property comprises a 4,183 square metre Industry ‘General Industry’ classified landholding located within a ‘community titled’ industrial subdivision situated on the eastern side of Leitchs Road, Brendale. The subject property is situated to the Leitchs Road frontage to the northern side of common road access driveway for the subdivision.
The property is improved with a modern industrial facility that was completed in 2012. The building provides a gross lettable area of 3,000 square metres, comprising 1,500 square metres of office / laboratory accommodation and 1,500 square metres of warehouse accommodation. The office accommodation is arranged two levels, providing open plan and partitioned areas in addition to staff amenities. The warehouse component provides clearspan accommodation, with access via 2 container height roller shutters to the southern building alignment covered by awnings. The warehouse component includes a partitioned offices and a workshop area which has external access via a roller door in addition to a mezzanine level of 67 square metres (not included with GLA).
Ancillary site improvements include reinforced concrete hardstand facilitating on site manoeuvrability for heavy vehicles and on site car parking arranged adjacent to the main office component and soft landscaping.
Financial Information:
Disclaimer: Information provided about forecast annual net cash flow and cash on cash returns are derived from unaudited financial projections. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Responsible Entity. The Responsible Entity cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
| Property type | Industrial / Office |
| Date acquired | 20 December 2023 |
| Land size | 4,183m² |
| Building size | 3,000m² |
| Purchase price | $8,625,000 |
| Independent valuation | $8,625,000 |
| Capitalisation rate used by Valuer | 6.00% |
| Valuation date | 27 November 2023 |
| Occupancy at purchase date | 100% |
| Financing | All cash purchase |
| WALE (Lease Expiry) | 3.42 years |
| WALE (Income) | 3.42 years |
| WALE (Lettable Area) | 3.42 years |
The weighted average lease expiry (WALE) is as at 31 March 2024 on the basis of the property as a stand alone acquisition, not its weighting in the Fund’s total portfolio. More recent information about the the Fund’s portfolio can be found here.