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