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News release


Brooklyn transport facility gearing up for sale

525 Geelong Road, Brooklyn

Significant interest is expected when a highly functional office/warehouse/transport facility tenanted by specialist logistics company, Emerald Lake Investments, hits the market this week.

Lincoln Reynolds and Pierre Ghougassian of Jones Lang LaSalle are offering 525 Geelong Road, Brooklyn for sale via an expression of interest campaign closing 4pm, Thursday 14th November, 2013.

The property is prominently located on Geelong Road near the busy intersection of Millers Road, approximately 8 kilometres from Melbourne's CBD and Ports and benefits from premium access to the Westgate Freeway and Western Ring Roads.

Zoned Industrial 1, the 2.39ha* site comprises a 3,355sqm* office/warehouse that is currently used as a transport and distribution facility by established storage and logistics occupier Emerald Lake Investments Pty Ltd. The functional warehouse boasts large container height roller shutter doors and its central on-site positioning allows for drive around access which is complimented with a large hardstand area.

The property currently returns $468,000pa with 4% increases and the tenant pays all outgoings.

Mr Reynolds said, "With a shift in demand towards the Industrial asset class and a shortage of passive assets available for sale in the Melbourne Industrial sector, this significant holding and potentially attractive yield should encourage investors and self-managed super funds to capitalise on historically low interest rates."

Mr Ghougassian said, "The sub $5 million market continues to be highly sought after, and the property's long 7 year lease (with one further option) provides security well beyond this vacancy cycle."

"The area has seen significant transformation over the last 10 years with upgrades to the West Footscray Station and the increased exposure to Bulky Goods with the recent arrival of Bunnings," Mr Ghougassian added.