JLL and Cushman & Wakefield are pleased to offer 13-19 William Angliss Drive, Laverton North for sale.
The asset offers an unrivalled opportunity to secure a major industrial estate in the highly coveted and tightly held infill precinct of Laverton North in Melbourne’s West. Situated on a 12.1 hectare landholding with dual street frontages are three high quality office warehouse facilities plus 1.62 hectares of development land able to be immediately activated.
Key investments highlights are as follows:
The asset is 100% leased to Visy Glass Operations and Concept Logistics offering a WALE (by Income) of 5.5 years (as at Dec-23) and net passing income of $4,541,826 p.a., ($81/m2 GLA), equating to 27% below the assessed market rental offering significant rental reversion upside.
- Total site area of 12.1 hectares with dual street frontages including the high profile Dohertys Road
- Laverton North is widely regarded as a premier logistics and industrial precinct given its proximity to the Port of Melbourne and arterial road network
- Building A is fully occupied by national 3PL provider Concept Logistics. Buildings B & C are occupied by Visy Glass Operations (Australia), wholly owned by global packaging and resource recovery company, Visy
- The land value represents over 80% of the total investment value underpinning the long-term capital growth of the asset
- Existing facilities offer high quality buildings with strong long-term occupier appeal and are able to be secured at a substantial discount to building replacement cost
- Upcoming lease expiry for 52% of the lettable area in 2026 and no further term options on either lease affording ability to reposition the estate in the medium term
- The existing facilities offer high quality warehousing featuring ESFR sprinklers, 11 metre clearance and numerous RSDs
The asset is being offered For Sale via Expressions of Interest closing Thursday 7th December 2023 at 3pm (AEDT).
For further information or to arrange an inspection, please contact a member of the transaction team.