19 Innovation Drive, Merrifield

Overview

Merrifield Business Park is a prime grade facility constructed on land adjoining DALT’s Ford DC at Merrifield Business Park in Melbourne’s Northern growth market. The facility will be developed by MAB concurrently with the Ford DC. The build to lease turn-key development comprise a state-of-the-art industrial and logistics building split into two tenancies.

Asset Information

  • Asset typeIndustrial Estate
  • Year built2024
  • Asset locationMelbourne Outer North
  • Site area (hectares)3.40
  • Lettable area ('000sqm)21.46
  • Lettable area adjusted for ownership ('000sqm)10.94
  • OwnerDXS
  • Ownership (%)51
  • Co-ownerDexus Australian Logistics Partner
  • Major tenantRMA Automotive Holdings Pty Ltd
  • Acquisition dateMarch 2021
  • Book value at ownership ($m)21.2
  • Independent valuation dateJune 2024
  • Independent valuation at ownership ($m)21.2
  • Market cap rate (%)5.50
  • 12 month rolling yield (%)4.19
  • Leased by area (%)100
  • Weighted lease term by income (years)2.7
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