Off Market Sale Announcement
Dawkins Occhiuto is pleased to announce the off-market sale at 51-73 Lambeck Drive, Tullamarine.
The property sold for $14,000,000 reflecting:
- a building rate of approximately $1,500 psm; and
- an initial yield of 6.60%.
The property comprises a modern office/warehouse investment located at the periphery of Melbourne Airport with excellent freeway access. The facility is fully leased to global logistics operator Hellman Worldwide Logistics.
The property sold for $14,000,000 reflecting a building rate of approximately $1,500 psm and an initial yield of 6.60%.
Dawkins Occhiuto congratulates both the vendor, a local private syndicate, and purchaser Centuria Industrial REIT on this acquisition and other major acquisitions recently announced.
For further information or a copy of our sale analysis please contact Chris Jones on +61 477 881 882.
The property features:
- Total Gross Lettable Area of 10,275 sqm* (including enclosed canopy area)
- Corner Commercial 2 zoned site of 17,320 sqm*
- Two storey office component (24% of GLA)
- Drive around access
- Significant loading facilities including enclosed and semi-enclosed canopies
- Multiple crossovers allowing easy ingress and egress
- Longstanding tenant with 2.7 years remaining
- Fixed 3.0% annual rental increases
- Net lease including single holding Land Tax and all usual outgoings
- Passing net rent of $923,812 p.a.*
- Occupied by global logistics business – Hellman Worldwide Logistics