5 Butler Boulevard, Adelaide Airport
Overview
The property is located within a commercial and industrial precinct known as Burbridge Business Park in the northwestern corner of Adelaide Airport, approximately seven kilometres west of Adelaide’s CBD. The property comprises six attached office/warehouse units with a combined GLA of 12,334 sqm and was constructed in 2007. The property is home to quality corporates including Toyota Australia, TNT and Miele Australia amongst others.
Asset Information
- Asset typeIndustrial
- Year built2007
- TitleLeasehold
- Asset locationAdelaide
- ZoningCommonwealth Facilities Zone
- Site area (hectares)2.3
- Site coverage (%)53
- Lettable area ('000sqm)12.3
- Lettable area adjusted for ownership ('000sqm)12.3
- Number of buildings1
- Car parking spaces164
- OwnerDXI
- Ownership (%)100
- Major tenantMiele Australia Pty Limited
- Book value at ownership ($m)19.3
- Independent valuation dateJune 2023
- Independent valuation at ownership ($m)19.3
- Market cap rate (%)6.23
- Leased by area (%)100
- Weighted lease term by income (years)1.7