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.
Asset Information
- Asset typeIndustrial
- Year built2008
- TitleLeasehold
- Site area (hectares)1.4
- Lettable area ('000sqm)8.2
- Lettable area adjusted for ownership ('000sqm)8.2
- Car parking spaces133
- OwnerDXI
- Ownership (%)100
- Major tenantAustralian Postal Corporation
- Acquisition dateMarch 2021
- Book value at ownership ($m)13.0
- Independent valuation dateJune 2024
- Independent valuation at ownership ($m)13.0
- Market cap rate (%)6.75
- Leased by area (%)100
- Weighted lease term by income (years)2.8