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Port Adelaide Distribution Centre,
Bedford Street, Port Adelaide, SA
The complex comprises 12 warehouses, the majority of which
ware of modern construction. There is surplus development land
with potential to add a further 7,500m2 of building area.
Recent capital works at the property include hardstand areas for
ACI, further improving the operational functionality of the estate.
Location: Port Adelaide, SA
Acquisition date: July 2000
Ownership/title: 100%/Freehold
Cost including additions: $46.1 million
Independent valuation: June 2009
Valuation/($/m2): $76.5 million ($459/m2)
Capitalisation rate: 9.75%
Discount rate: 11.00%
Lettable area: 166,838m2
Site area: 32.0 hectare
Major Tenants GLA (m2)
ACI Glass 101,926
Hi Fert Pty Ltd 26,863
ABB Grain 10,597
Lease expiry profile
Vacant 2%
FY10 17%
FY11 64%
FY12 3%
FY13 2%
FY14+ 12%
Brooklyn Estate,
413 Francis Street, Brooklyn, VIC
Brooklyn Estate is a well established 22 hectare distribution
centre, strategically located 10km west of the Melbourne CBD
and adjacent to the four-way interchange of West Gate Freeway
and the Princes Highway.
The estate comprises eight separate warehouses, which were
completed in the 1980s and early 1990s.
Location: West Melbourne, VIC
Acquisition date: June 2003
Ownership/title: 100%/Freehold
Cost including additions: $58.9 million
Independent valuation: June 2009
Valuation/($/m2): $72.1 million ($552/m2*)
Capitalisation rate: 9.25%
Discount rate: 9.50%
Lettable area: 130,719m2
Site area: 21.9 hectare
Hardstand: 12,951m2
Major Tenants GLA (m2)
CEVA 29,149
Toll Holdings LTD 21,942
HAG 21,207
Booth Transport 17,324
Lease expiry profile
Vacant 2%
FY10 54%
FY11 6%
FY12 0%
FY13 5%
FY14+ 33%
* Excludes hardstand.
9-11A Ferndell Street,
Granville, NSW
9-11 Ferndell Street comprises two modern office/warehouse
buildings on a 5.4 hectare site. 14,370m2 is leased by Australian
Envelopes expiring in 2013.
11a Ferndell Street is a factory/warehouse building comprising
of three warehouse bays and ancilliary office leased to Visy
until 2013.
Both properties are located in the established industrial suburb
of Granville, which is 20km west of the Sydney CBD.
Location: Western Sydney, NSW
Acquisition date: June 2003/April 2003
Ownership/title: 100%/Freehold
Cost including additions: $52.7 million
Independent valuation: June 2009
Valuation/($/m2): $50.4 million ($1,044/m2)
Capitalisation rate: 9.13% - 10.50%
Discount rate: 10.00% - 10.50%
Lettable area: 48,280m2
Site area: 8.6 hectare
Major Tenants GLA (m2)
Visy Industrial Plastics 17,546
Australian Envelopes 14,370
Frucor Beverages 5,909
Lease expiry profile
Vacant 7%
FY10 0%
FY11 0%
FY12 17%
FY13 36%
FY14+ 40%
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