20-22 Butler Boulevard, Adelaide Airport

Overview

The property is located within Burbridge Business Park, which is part of the Adelaide Airport precinct. Major logistics occupiers in the precinct include Toll, TNT, FedEx, StarTrack Express and Australia Post. The property comprises of a warehouse and two-level office building, and associated hardstand with on-site car parking. TNT, a subsidiary of FedEx, and Agility Logistics, occupy the facility in near-equal sized tenancies. 

Asset Information

  • Asset typeIndustrial
  • Year built2007
  • TitleLeasehold
  • Asset locationAdelaide
  • ZoningCommonwealth Facilities Zone
  • Site area (hectares)2.5
  • Site coverage (%)45
  • Lettable area ('000sqm)11.2
  • Lettable area adjusted for ownership ('000sqm)11.2
  • Number of buildings1
  • Car parking spaces116
  • OwnerDXI
  • Ownership (%)100
  • Major tenantHarvey Norman (HOA)
  • Acquisition dateMarch 2021
  • Book value at ownership ($m)17.8
  • Independent valuation dateJune 2023
  • Independent valuation at ownership ($m)17.8
  • Market cap rate (%)5.73
  • Leased by area (%)100
  • Weighted lease term by income (years)5.6
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