Broadmeadows

Location

The property is in the suburb of Broadmeadows, within Melbourne's northern industrial sub-market. Located in the precinct to the North of Camp Road, south of Broadfield Road and bordering the Merlynston Creek to the west, the property is approximately 15 kilometres north of the Melbourne CBD.

Development Project

The property is surrounded by medium scale industrial facilities, and industrial unit developments as well as the Maygar Army Barracks immediately to the east. The industrial accommodation in the surrounding area is a mix of semi modern ad dated improvements.

Major road infrastructure servicing this location includes Cap Road to the south of the property and Sydney Road to the east, providing connection to the Metropolitan Ring Road. Pascoe Vale Road is located to the west of the property.

The property is a 62,430 square metre development site within the established industrial precinct of Broadmeadows. Existing improvements comprise three separate buildings with a total combined building area of 13,450 square metres. There are currently two tenants occupying the property under formal lease agreements expiring in mid-2025. The primary tenant has occupied the premises for over 15 years and is expected to extend their lease for a further term.

Purpose

To facilitate the refinance of property, provide working capital to be utilised for the subdivision works, provide an equity release to the Sponsors and fund loan establishment fees and costs.

Exit Strategy

The primary exit strategy is through the sale of subdivided lots.

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