1 West Park Drive, Derrimut

Overview

The property is located approximately 17 kilometres west of the Melbourne CBD in Derrimut. Situated on the corner of West Park Drive and Boundary Road, the property provides exceptional access and exposure to passing traffic whilst also being near the Deer Park Bypass and the Western Ring Road. The facility itself comprises 10,078 square metres of gross lettable area constructed in 2008, with canopy covering all roller shutter doors, full B-double compliant hardstand and 160 car parks. The entire premise is leased to Downer Group, a leading provider of integrated services.

Asset Information

  • Asset typeIndustrial
  • Year built2008
  • TitleFreehold
  • Asset locationMelbourne, West
  • ZoningIndustrial 2 Zone (IN2Z)
  • Site area (hectares)2.2
  • Site coverage (%)47
  • Lettable area ('000sqm)10.1
  • Lettable area adjusted for ownership ('000sqm)10.1
  • Number of buildings1
  • Car parking spaces160
  • OwnerDXI
  • Ownership (%)100
  • Major tenantDowner Utilities Australia Pty Ltd
  • Acquisition dateSeptember 2018
  • Book value at ownership ($m)19.2
  • Independent valuation dateJune 2023
  • Independent valuation at ownership ($m)19.2
  • Market cap rate (%)5.00
  • Leased by area (%)100
  • Weighted lease term by income (years)4.8
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