3 & 4 Forbes Close, Knoxfield

Overview

3 & 4 Forbes Close are adjacent to each other and occupied by the same tenant. SJ Display Group is a privately owned business with a 25+ year track record that manufactures and supplies retail display products. They have operations across Australia, New Zealand and China.

The properties feature high clearance warehouses of 7.5 metres accessible via roller shutter doors, and owning adjoining properties provides additional optionality for re-leasing and future redevelopment opportunities.

Property Information

  • Building typeIndustrial
  • Year built1986
  • TitleFreehold
  • Metro areaMelbourne, South East
  • ZoningIndustrial 1 Zone
  • Site area (hectares)2.4
  • Site coverage (%)52.9
  • Lettable area ('000sqm)12.7
  • Lettable area adjusted for ownership ('000sqm)12.7
  • Number of buildings2
  • Car parking spaces211
  • OwnerADI
  • Ownership (%)100
  • Major tenantSJ Display Group
  • Acquisition dateMay 2019
  • Book value at ownership ($m)21.6
  • Independent valuation dateJune 2021
  • Independent valuation at ownership ($m)21.6
  • Market cap rate (%)5.25
  • Leased by area (%)100
  • Weighted lease term by income (years)4.5
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