5b Butler Boulevard, Adelaide Airport

Overview

The property is located within Burbridge Business Park which is aimed to be a campus style environment, catering for high technology office accommodation together with office/warehouse developments of varying sizes. The property comprises a leasehold site upon which Stage 2 of an office/warehouse facility was constructed in 2009. Improvements are disposed as four attached office/warehouse units with associated hardstand and on site car parking. The four units are fully leased to individual tenants including Australia Post and Direct Couriers.

Property Information

  • Building typeIndustrial
  • Year built2007
  • TitleLeasehold
  • Metro areaAdelaide
  • ZoningCommonweath Land
  • Site area (hectares)1.4
  • Site coverage (%)58.5
  • Lettable area ('000sqm)8.2
  • Lettable area adjusted for ownership ('000sqm)8.2
  • Number of buildings1
  • OwnerDXI
  • Ownership (%)100
  • Major tenantAustralian Postal Corporation
  • Acquisition dateMarch 2021
  • Book value at ownership ($m)13.8
  • Independent valuation dateDecember 2021
  • Independent valuation at ownership ($m)13.8
  • Market cap rate (%)5.91
  • Leased by area (%)100
  • Weighted lease term by income (years)4.5
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