62 Ferndell Street, South Granville

Overview

62 Ferndell Street is a 10-hectare brownfield opportunity located within a tightly held industrial market with constrained land supply and with close proximity to the M4 Motorway (WestConnex). Dexus has lodged a development application to build 54,000 square metres of industrial property across four buildings with varying tenancy sizes to appeal to a range of customers in this precinct.

Asset Information

  • Asset typeIndustrial Estate
  • Year built2021
  • TitleFreehold
  • Asset locationSydney South West
  • ZoningIN1 General Industrial
  • Site area (hectares)10.0
  • Site coverage (%)57
  • Lettable area ('000sqm)57.4
  • Lettable area adjusted for ownership ('000sqm)29.3
  • Owner DXS,DALT
  • Ownership (%)51
  • Co-ownerDexus Australian Logistics Partner
  • Major tenantWinit (AU) Trade Pty Ltd
  • Acquisition dateSeptember 2018
  • Book value at ownership ($m)149.9
  • Independent valuation dateJune 2023
  • Independent valuation at ownership ($m)149.9
  • Market cap rate (%)4.00
  • 12 month rolling yield (%)3.53
  • Leased by area (%)100
  • Weighted lease term by income (years)5.3
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