45-55 O'Briens Road, Corio

Overview

The property is comprised of 95,000 square metres of land and 25,197 square metres of warehousing with full drive around access, and minimum clearance heights of 10 metres, increasing to 15 metres. The property is leased to Thornton Engineering, an advanced manufacturer and industry leader in the steel industry. The business was established in 1975 and has over 175 employees, and leverages market-leading automation in one of the most advanced workshops across the southern hemisphere to engineer and fabricate products for major infrastructure, defence, and resource projects.

Property Information

  • Building typeIndustrial
  • Year built2010
  • TitleFreehold
  • Metro areaMelbourne, South West
  • ZoningIndustrial 2 Zone
  • Site area (hectares)9.5
  • Site coverage (%)26.5
  • Lettable area ('000sqm)25.2
  • Lettable area adjusted for ownership ('000sqm)25.2
  • Number of buildings1
  • OwnerDXI
  • Ownership (%)100
  • Major tenantThornton Engineering Australia
  • Acquisition dateApril 2021
  • Book value at ownership ($m)39.3
  • Independent valuation dateDecember 2021
  • Independent valuation at ownership ($m)39.3
  • Market cap rate (%)5.00
  • Leased by area (%)100
  • Weighted lease term by income (years)19.3
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