278 Orchard Road, Richlands


278 Orchid Road is a 11.3-hectare site with 6 tenancies varying in size from 6,000sqm to 11,500sqm. The improvements are situated in the middle of the site which caters well for multiple tenancies. There is a large cubic capacity with internal clearance up to 13.7 metres, ESFR sprinklers, mix of on grade and docks access, large all-weather awning, full B double and full street access.

Property Information

  • Building typeIndustrial Estate
  • Year built1985
  • Metro areaBrisbane South West
  • ZoningGeneral Industry C
  • Site coverage (%)47
  • Lettable area ('000sqm)53
  • Lettable area adjusted for ownership ('000sqm)27.0
  • Number of buildings1
  • Number of units6
  • Average unit size8.8
  • Ownership (%)51
  • Co-ownerDexus Australian Logistics Partner
  • Major tenantMyer
  • Acquisition dateMarch 2021
  • Book value at ownership ($m)44.6
  • Independent valuation dateJune 2021
  • Independent valuation at ownership ($m)44.6
  • Market cap rate (%)5.25
  • Initial yield (%)5.26
  • Leased by area (%)100
  • Weighted lease term by income (years)3.2
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