350-356 Cooper Street, Epping

Overview

The asset comprises an 8,088 square metre Ford and Volkswagen service and sales dealership with modern buildings constructed in 2010 and 2017 featuring office, warehouse and showroom facilities. The site coverage is 35%, providing potential for development and value add. The layout and design of the buildings is geared towards outstanding customer experiences and maintenance, and this is one of the reasons the high-performing facility is leased to Autopact, one of Australia’s largest dealership groups.

Property Information

  • Building typeIndustrial
  • Year built2010/2017
  • TitleFreehold
  • Metro areaMelbourne, North
  • ZoningComprehensive Development Zone - Schedule 2
  • Site area (hectares)2.3
  • Site coverage (%)34.9
  • Lettable area ('000sqm)8.1
  • Lettable area adjusted for ownership ('000sqm)8.1
  • Number of buildings2
  • Car parking spaces394
  • OwnerADI
  • Ownership (%)100
  • Major tenantAutopact
  • Acquisition dateDecember 2019
  • Book value at ownership ($m)32.5
  • Independent valuation dateJune 2021
  • Independent valuation at ownership ($m)32.5
  • Market cap rate (%)5.50
  • Leased by area (%)100
  • Weighted lease term by income (years)6.1
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