13 Ricky Way and 10 Jersey Drive, Epping

Overview

The combined site consists of two warehouse facilities with street frontages to both Ricky Way and Jersey Drive, situated in the north of Melbourne at Epping, in close proximity to Melbourne Market. The 11,211 sqm under roof serves as a head office, production and logistics facility for food service industry supplier, Edlyn Foods. Edlyn Foods is a long-standing business with a history that dates back to the 1920s, and services businesses ranging from quick services restaurants to hospitals and aged care facilities. The warehouses are of modern, high clearance steel portal design.

Property Information

  • Building typeIndustrial
  • Year built2008
  • TitleFreehold
  • Metro areaMelbourne, North
  • ZoningComprehensive Development Zone
  • Site area (hectares)2.1
  • Site coverage (%)53.2
  • Lettable area ('000sqm)11.2
  • Lettable area adjusted for ownership ('000sqm)11.2
  • Number of buildings2
  • Car parking spaces111
  • OwnerDXI
  • Ownership (%)100
  • Major tenantEdlyn Foods
  • Acquisition dateJuly 2018
  • Book value at ownership ($m)24.3
  • Independent valuation dateDecember 2021
  • Independent valuation at ownership ($m)24.25
  • Market cap rate (%)4.50
  • Leased by area (%)100
  • Weighted lease term by income (years)6.7
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