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
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