425 Freeman Road, Richlands


425 Freeman Road was built in 2021. It is located only 25 minutes from Brisbane’s CBD, and close to the toll-free Logan Motorway. Positioned in the centre of an established industrial area, Freeman Central is just down the road from Dexus’s existing Drive Industrial Estate.

With its connection to main arterial roads and Richlands station, it’s just 32 minutes by train to Central or less than half an hour by car.

This new asset has 99kw solar array for cost savings, 8 tonne post load floors, 35m wide hardstands and high internal warehouse clearance.

Asset Information

  • Asset typeIndustrial Estate
  • Year built2021
  • TitleFreehold
  • Asset locationBrisbane South
  • ZoningGeneral Industry B and General Industry C
  • Site area (hectares)9.10
  • Lettable area ('000sqm)55.2
  • Lettable area adjusted for ownership ('000sqm)28.2
  • Number of buildings1
  • Number of units5
  • Average unit size11
  • Owner DXS,DALT
  • Ownership (%)51
  • Co-ownerDexus Australian Logistics Partner
  • Major tenantQueensland Government
  • Acquisition dateJune 2019
  • Book value at ownership ($m)65.3
  • Independent valuation dateDecember 2023
  • Independent valuation at ownership ($m)65.3
  • Market cap rate (%)5.50
  • 12 month rolling yield (%)5.18
  • Leased by area (%)100
  • Weighted lease term by income (years)4.7
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