570-586 Wickham Street, Fortitude Valley

Overview

570-586 Wickham Street comprises two adjoining, purpose-built automotive dealerships known as Lighthouse, constructed in 2011, and the Euro Marque building, built in 2006.

The property features 13,288 square metres of office and showroom space across two levels and a hardstand and external area.

Property Information

  • Building typeDistribution Centre
  • Year built2006/2001
  • TitleFreehold
  • Metro areaBrisbane
  • ZoningB4 Mixed Use
  • Site area (hectares)0.7
  • Lettable area ('000sqm)9.6
  • Lettable area adjusted for ownership ('000sqm)9.6
  • Number of buildings2
  • OwnerDXS
  • Ownership (%)100
  • Major tenantAutosports Group
  • Acquisition dateJuly 2018
  • Book value at ownership ($m)93.0
  • Independent valuation dateJune 2019
  • Independent valuation at ownership ($m)93.0
  • Market cap rate (%)6.00
  • Initial yield (%)5.88
  • Leased by area (%)100
  • Weighted lease term by income (years)7.5
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