Derrimut – realestatesource https://www.realestatesource.com.au Commercial and residential property news Thu, 29 Jun 2017 14:02:57 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Derrimut – realestatesource https://www.realestatesource.com.au 32 32 IOOF Investment Management Buys $24 Million Industrial Asset, Derrimut https://www.realestatesource.com.au/ioof-investment-management-buys-24-million-industrial-asset-derrimut/ Sun, 18 Nov 2012 04:00:17 +0000 http://realestatesource.com.au/wordpress/ioof-investment-management-buys-24-million-industrial-asset-derrimut.html IOOF Investment Management Ltd has paid $24 million for a 27,000 square metre industrial facility in Melbourne’s west.

The Derrimut investment is within Australand’s West Park Industrial Estate – a 290 hectare industrial park located fifteen kilometres from town on Boundary Road, abutting the Deer Park Bypass.

Just over a year ago IOOF paid $19 million for another asset in the Australand estate. Other West Park occupants include Mitre 10, Freight Specialists, La-Z-Boy and Bed Bath N’Table.
]]> IOOF head of Property Investments Simon Gross said: “We are very pleased with the investments we have secured through Australand. The assets provide high quality, long term covenants and brand new prime grade industrial assets. These properties complement our direct property mandate to invest in core, fully leased assets using low gearing.”

“These assets will be placed in the Property Plus diversified trust which has generated an annualised return of 11.58% per annum over the last ten years. Having recognised investors’ requirements for funds which deliver relatively high and consistent returns during periods of economic uncertainty, IOOF has allocated an additional $90 million to acquire prime properties,” Mr Gross said.

Colliers International’s Peter Evans and Tony Iuliano sold the site with Australand’s Andrew Hanna.

]]> AirRoad Logistics Leases New Derrimut Headquarters https://www.realestatesource.com.au/airroad-logistics-leases-new-derrimut-headquarters/ Tue, 30 Nov 2010 04:49:41 +0000 http://realestatesource.com.au/wordpress/airroad-logistics-leases-new-derrimut-headquarters.html AIRROAD Logistics will relocate its headquarters from Laverton North, to an as-yet-unbuilt 21,500 square metre office warehouse at the Paramount Industrial Estate, in nearby Derrimut, after signing a 10-year lease for an Elgar Road facility.

Colliers International’s Stephen Newsham and Nathan Bingham negotiated the pre-lease for the land owner, a private investor.

Sources speculate market rents at Paramount circle $57 per square metre, per annum before incentives (a rental discount offered to tenants, usually in the form of a rental discount, or contribution to fit-out).
]]> Mr Newsham said industrial pre-leases for unbuilt Melbourne facilities has totaled 220,000 square metres this year.

Elsewhere in the immediate area, Slidecross Transport recently committed to an established 20,000 square metre office warehouse at 463A Somerville Road, Brooklyn, previously occupied by Matrix Transport.

Across town, automotive retailer Autobahn recently leased a 22,541 square metre office warehouse in Nunawading, previously occupied by Pacific Brands division Holeproof, before it moved offshore in 2009.

The Nunawading factory is owned by the Perth-based Aspen Group, which this week sold the L’Oreal headquarters building at 564 St Kilda Road for $33.3 million after paying another Perth based fund manager, Cape Bouvard, $25 million for it in November 2004.

]]> Builder Buys Industrial Development Site, Derrimut, Melbourne https://www.realestatesource.com.au/builder-buys-industrial-development-site-derrimut-melbourne/ Sun, 03 Oct 2010 13:50:40 +0000 http://realestatesource.com.au/wordpress/builder-buys-industrial-development-site-derrimut-melbourne.html MELBOURNE based builder Property Investment Trust plans to build a 10,000 square metre distribution warehouse at the Gilbertson Industrial Estate, in Derrimut.

The group paid $2.2 million for the 128 Swann Drive site, spread over 1.84 hectares.

Jones Lang Lasalle’s Rob Mirabello and Ashley Buller marketed the site.

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