278 Orchard Road, Richlands
Overview
278 Orchard Road is a 11.3-hectare site with functional multi- tenant warehousing. There facility has large cubic capacity with internal clearance up to 13.7 metres, ESFR sprinklers, a mix of on grade and docks access, large all-weather awning, full B double and full street access. The asset has good access to the Ipswich and Centenary Motorway networks.
Asset Information
- Asset typeIndustrial Estate
- Year built1980s
- TitleFreehold
- Asset locationBrisbane South West
- ZoningGeneral Industry C
- Site area (hectares)10.00
- Lettable area ('000sqm)60.1
- Lettable area adjusted for ownership ('000sqm)30.7
- Number of buildings1
- Number of units6
- Average unit size9
- Owner DXS,DALT
- Ownership (%)51
- Co-ownerDexus Australian Logistics Partner
- Major tenantMCM Logistics
- Acquisition dateMarch 2021
- Book value at ownership ($m)48.9
- Independent valuation dateDecember 2023
- Independent valuation at ownership ($m)48.9
- Market cap rate (%)6.00
- 12 month rolling yield (%)5.78
- Leased by area (%)97
- Weighted lease term by income (years)1.5