90 Mills Road, Braeside

Overview

90 Mills Road is a highly functional freestanding industrial and logistics facility located within the established Woodlands Industrial Estate in Braeside, approximately 25 kilometres south east of the Melbourne CBD.

The substantial warehouse component features an internal clearance of circa 10 metres, more than 60 roller doors, 16 recessed loading docks and generous hardstand at the side and rear allowing for easy and efficient truck manoeuvrability. Large awnings provide undercover loading to many of the roller doors.

The facility comprises one main office area along with two separate office components within the warehouse. The primary single storey office is located to the front of the building with two-storey offices at the midpoint of the warehouse and to the rear of the warehouse.

Situated on an eight-hectare land holding, the property benefits from dual street frontage to Mills Road and Venture Way, which provides outstanding access and truck throughway. The property provides efficient access to major surrounding arterials including the Dingley Bypass, Eastlink, Nepean Highway and Mornington Peninsula Freeway. Additionally, road networks including Lower Dandenong Road and Boundary Road provide direct access to Melbourne’s greater south eastern industrial markets and the established surrounding residential catchments.

– Highly functional freestanding industrial and logistics facility

– The strength of this location attracts major corporate occupiers

– Efficient access to major surrounding arterial freeways

Property Information

  • Building typeDistribution Centre
  • TitleFreehold
  • Site area (hectares)8.0
  • Lettable area ('000sqm)40.6
  • Lettable area adjusted for ownership ('000sqm)30.4
  • Number of buildings1
  • Car parking spaces191
  • Year built1996
  • Major tenantSimons National Carriers
  • OwnerDXS
  • Ownership (%)75
  • Co-ownerDexus Australian Logistics Partner
  • Metro areaMelbourne, South East
  • ZoningIndustrial 1
  • Site coverage (%)50
  • Number of units1
  • Average unit size40.6
  • Office content5
  • Acquisition dateJuly 2017
  • Book value at ownership ($m)41.0
  • Independent valuation dateJune 2019
  • Independent valuation at ownership ($m)41.0
  • Market cap rate (%)5.75
  • Initial yield (%)6.01
  • Leased by area (%)100
  • Weighted lease term by income (years)10.3