Axxess provides a combination of freestanding office buildings and traditional industrial office/ warehouse units fronting onto Forster and Gilby Roads. The estate provides smaller units up to 1,000sqm plus modern office/ warehouses up to 6,000sqm.
Building type: Business Park
Site area: (hectares) 19.6
Lettable area: ('000 m2) 84.8
Number of buildings: 29
Car parking spaces: 1
Year built: 1980
Major tenant: Jemena Ltd
Metro area: Melbourne
Zoning: Business 3 Zone
Site coverage: (%) 43
Number of units: 119
Average unit size: ('000 m2) 0.7
Acquisition date: Oct 1996
Acquisition price plus additions: (AU $m) $162.40
Book value: (AU $m) $181.25
Independent valuation date: Jun 2010
Independent valuation: (AU $m) $179.40
Market cap rate: (%) 8.43
Initial yield: (%) 7.69
Discount rate: (%) 9.50
Leased by area: (%) 98
Weighted lease term by income: (year/s) 3.3
About DEXUS Property Group
DEXUS Property Group owns, manages and develops 189 industrial properties specialising in premium business parks, industrial estates and logistics and distribution facilities.
Our portfolio is valued at A$4.0 billion and our properties are located in the key industrial and logistics areas of Australia, the United States, Canada, and Europe.
We are Australia's second largest owner of industrial property, providing more than 5.3 million square metres of space to some of the world's leading brands such as Whirlpool Corporation, FedEx, Visy Steel, Coles, Wesfarmers and IBM.
DEXUS is one of Australia's leading property groups specialising in owning, managing and developing world-class office, industrial and retail properties with total properties under management of more than A$13 billion primarily in Australia and the US.
In Australia, DEXUS is the market leader in office and industrial properties. DEXUS also manages one of the largest third party investment management platforms and is a leading manager and developer of sub-regional shopping centres. DEXUS is committed to being a market leader in Corporate Responsibility and Sustainability.