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.

Property Information

  • Building typeIndustrial
  • Year built2007
  • TitleSub-leasehold
  • Metro areaMelbourne, North
  • ZoningCommonweath Land
  • Site area (hectares)3.4
  • Site coverage (%)31.3
  • Lettable area ('000sqm)10.5
  • Lettable area adjusted for ownership ('000sqm)10.5
  • Number of buildings1
  • Car parking spaces224
  • OwnerDXI
  • Ownership (%)100
  • Major tenantStartrack
  • Book value at ownership ($m)16.5
  • Independent valuation dateDecember 2021
  • Independent valuation at ownership ($m)16.5
  • Market cap rate (%)6.85
  • Leased by area (%)100
  • Weighted lease term by income (years)5.7
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