140 Sharps Road, Tullamarine

Overview

The property comprises a modern warehouse with an attached two level office component. The building was constructed in 2007 and has a GLA of 10,508 sqm. The warehouse provides high clearance accommodation, a semi enclosed sorting area and a semi-enclosed loading/unloading area. On-site car parking is provided via approximately 224 car spaces. The property is situated in Tullamarine, approximately 16 kilometres north-west of the Melbourne Central Business District. AAE Retail, a division of Australia Post, is the sole tenant of the property.

Asset Information

  • Asset typeIndustrial
  • Year built2007
  • TitleLeasehold
  • Site area (hectares)3.4
  • Lettable area ('000sqm)10.5
  • Lettable area adjusted for ownership ('000sqm)10.5
  • Car parking spaces224
  • OwnerDXI
  • Ownership (%)100
  • Major tenantAAE Retail Pty Ltd
  • Acquisition dateDecember 2013
  • Book value at ownership ($m)15.8
  • Independent valuation dateJune 2024
  • Independent valuation at ownership ($m)15.8
  • Market cap rate (%)7.95
  • Leased by area (%)100
  • Weighted lease term by income (years)3.3
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