89 West Park Drive, Derrimut

Overview

The property is located within the West Park Industrial Estate in Derrimut, approximately 16 kilometres west of the Melbourne Central Business District. The property comprises an industrial facility constructed in 2007 and subdivided into two tenancies totalling 17,024 sqm of GLA. The facility incorporates a portal framed, high clearance warehouse, with offices predominantly built within the warehouse roofline. On-site car parking is provided via approximately 72 car spaces situated to the southern boundary of the site and via approximately 71 car spaces to the northern boundary. The entire premise is leased to The Dempsey Group.

Property Information

  • Building typeIndustrial
  • Year built2007
  • TitleEffective freehold
  • Metro areaMelbourne, West
  • ZoningIndustrial 2 Zone
  • Site area (hectares)3
  • Site coverage (%)56.8
  • Lettable area ('000sqm)17
  • Lettable area adjusted for ownership ('000sqm)17
  • Number of buildings1
  • Car parking spaces143
  • OwnerDXI
  • Ownership (%)100
  • Major tenantDempsey Group
  • Book value at ownership ($m)30.3
  • Independent valuation dateDecember 2021
  • Independent valuation at ownership ($m)30.3
  • Market cap rate (%)4.25
  • Leased by area (%)100
  • Weighted lease term by income (years)5.7
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