250 Forest Road South, Lara

Overview

250 Forest Road South is an expansive distribution centre located in the industrial precinct of Lara between the ports of Melbourne and Geelong.

The property comprises four warehouse buildings, each approximately 29,000 square metres in size, with a railway spur along the southern boundary. There is also a single office building and a car park for up to 122 vehicles.

The property is well connected to the M1 Geelong Ring Road and Princes Freeway and is approximately 57 kilometres south-west of the Melbourne CBD and 10 kilometres north of Geelong. Avalon Airport is conveniently only 13 kilometres away.

- Four expansive distribution warehouses

- Dual port access at Melbourne and Geelong

- Rare railway spur

Property Information

  • Building typeDistribution Centre
  • TitleFreehold
  • Site area (hectares)24.6
  • Lettable area ('000sqm)117.3
  • Lettable area adjusted for ownership ('000sqm)88.0
  • Number of buildings4
  • Car parking spaces122
  • Year built1985
  • Major tenantAWH
  • OwnerDXS
  • Ownership (%)75
  • Co-ownerDexus Australian Logistics Partner
  • Metro areaMelbourne, South West
  • ZoningIndustrial 2
  • Site coverage (%)48
  • Number of units4
  • Average unit size29.3
  • Office content1
  • Acquisition dateDecember 2002
  • Book value at ownership ($m)44.3
  • Independent valuation dateJune 2019
  • Independent valuation at ownership ($m)44.3
  • Market cap rate (%)8.25
  • Initial yield (%)10.14
  • Leased by area (%)100
  • Weighted lease term by income (years)4.0