137-147 Fitzgerald Road, Laverton North

Overview

The 16,335 square metre warehouse is located in a prime location adjacent to Doherty’s Road, has B-double drive around access, and the opportunity to add value over time by improving the utilisation of the land. The tenant is Period Timber Mouldings, which was established in 1995, and supplies products to over 320 separate retailers including Bunnings, Mitre 10, and Home Timber & Hardware.

Property Information

  • Building typeIndustrial
  • Year built1996
  • TitleFreehold
  • Metro areaMelbourne, West
  • ZoningIndustrial 2 Zone
  • Site area (hectares)3.0
  • Site coverage (%)55.1
  • Lettable area ('000sqm)16.4
  • Lettable area adjusted for ownership ('000sqm)16.4
  • Number of buildings1
  • Car parking spaces61
  • OwnerDXI
  • Ownership (%)100
  • Major tenantPeriod Timber Mouldings
  • Acquisition dateJuly 2021
  • Book value at ownership ($m)27.3
  • Independent valuation dateDecember 2021
  • Independent valuation at ownership ($m)27.3
  • Market cap rate (%)4.50
  • Leased by area (%)100
  • Weighted lease term by income (years)9.6
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