Lot 501 Innovation Drive, Merrifield

Overview

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

Property Information

  • Building typeIndustrial Estate
  • TitleFreehold
  • Metro areaMelbourne Outer North
  • Lettable area ('000sqm)21.5
  • Lettable area adjusted for ownership ('000sqm)10.9
  • Owner DXS,DALT
  • Ownership (%)51
  • Co-ownerDexus Australian Logistics Partner
  • Major tenantRMA Automotive
  • Acquisition dateMarch 2021
  • Book value at ownership ($m)17.8
  • Independent valuation dateJune 2022
  • Independent valuation at ownership ($m)17.9
  • Market cap rate (%)4.50
  • Initial yield (%)2.90
  • Leased by area (%)100
  • Weighted lease term by income (years)4.8
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