1-3 Westrac Drive, Newcastle

Overview

The Property is a best-in-class and purpose-built distribution, training and maintenance facility for WesTrac, Australia’s largest authorised dealer of Caterpillar equipment. Completed in 2012, the property encompasses 12 interconnected facilities and ancillary buildings totalling 48,200 square metres, in addition to over 100,000 square metres of hardstand. The site spans 42.9 hectares, which includes 17.5 hectares of future expansion land for WesTrac.

The Property is used by WesTrac to service an extensive area across NSW and the ACT. Underlying industries include a significant component of infrastructure and general construction, highway truck servicing as well as coal and base metals mining.

Asset Information

  • Asset typeIndustrial
  • Year built2012
  • TitleFreehold
  • Asset locationNewcastle
  • ZoningIN1 General Industrial
  • Site area (hectares)42.9
  • Site coverage (%)11
  • Lettable area ('000sqm)48.2
  • Lettable area adjusted for ownership ('000sqm)48.2
  • Number of buildings1
  • Car parking spaces201
  • OwnerDXI
  • Ownership (%)100
  • Major tenantWesTrac Pty Limited
  • Acquisition dateSeptember 2016
  • Book value at ownership ($m)286.0
  • Independent valuation dateJune 2023
  • Independent valuation at ownership ($m)286.0
  • Market cap rate (%)5.13
  • Leased by area (%)100
  • Weighted lease term by income (years)11.2
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