Dexus acquired Lakes Business Park in Botany in January 2015 consistent with its strategy to invest in core industrial markets with the potential for superior rental growth.
- Dexus recognised the opportunity to leverage economies of scale and efficiencies in asset management, procurement and marketing given the asset adjoins St Joseph Banks Corporate Park, which is owned by Dexus Wholesale Property Fund and managed by Dexus
- Dexus repositioned the tenancy mix through targeting precinct dependant industry groups to drive occupancy and rental growth, resulting in:
- Leasing across 13,000square metres (46% of total GLA) since acquisition
- Increased occupancy from 93.9% as at January 2015 to 96.2% as at 30 June 2017
- Achieving office rental growth above underwrite assumptions
View more information on Lakes Business Park.