Doncaster Road, Doncaster
This property was acquired in December 2009 for $17.3 million.
Features at the time of purchase included:
Four two-level commercial buildings constructed between 1994 and 1998 on separate titles with 8,921m2 NLA
Associated car parking and prominent exposure to Doncaster Road.
- Securely leased to Silverstone Jaguar, Ambulance Victoria, Hanson Construction Materials, Guardian Security and Shaver Shop.
The original investment strategy highlighted the need to:
Reduce building operating costs.
Commence a sell down of each building when the releasing of each building is complete. All up a 3-4 year investment with the majority of debt paid back from the sale of the first two buildings.
|Performance to date|
|Purchase Price:||$17.3 m|
|Gross Realisation||$23.0 m|
|Investor IRR– Post Fees||49.0%|