Mapletree Logistics Trust has settled on a conditional forward purchase made a year ago for a 2.6 hectare warehouse in Melbourne’s west Truganina.
The deal, with retiring Vaughan co-directors Ken and Matthew Vaughan’s Wooreddy Investments, is worth $18.4 million.
The 15 Botero Place property includes a newly completed 15,100 square metre warehouse with A-grade specifications, 10 metre clearance, floor loading capacity of 30kN/sqm and superflat (tighter tolerating) floors of FF30 and FL35.
It also contains an ESFR sprinkler system, eight motorised roller shutters, four recessed loading docks and 2000 sqm canopy – designed to that any occupier can operate under any weather condition (story continues below).
Vaughan pre-sold it with vacant possession – however Mapletree pre-leased all of the area prior to settlement.
When it announced the acquisition last September, the Singapore listed landlord estimated the stabilised yield to be 6.3 per cent.
Truganina is 22 kilometres from the city.