 Asset Class: | Industrial |
 Price: | $ 5200000 |
 Net Yield: | 6.09 % |
Net Yield - including solar strategy: | % |
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Strategically located just 5 km from Melbourne Airport, 29-31 Garden Drive, Tullamarine, boasts 2,437 sqm of GLA, comprising 1,658 sqm of clear-span warehouse space and 678 sqm of corporate-style office space spread across two levels. This property, leased to AMR Hewitts (a Peacock Bros. subsidiary) at a passing rent of $316,800 p.a., presents significant upside potential due to its versatility and potential to be split into two separate factories upon vacancy.<br>The short 18-month lease term offers an opportunity to secure this property at a compelling price, making it an excellent investment for those seeking flexibility and future growth. Situated on a 3,148 sqm site with dual entry/exit points, ample parking, and a functional layout, this asset in the City of Hume's C2Z zone combines exceptional convenience with future adaptability.
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<span style="color:rgb(51, 51, 51);"><b>AMR Hewitts PrintPackaging</b></span><span style="color:rgb(51, 51, 51);">, established in 1977, is a family-owned company specializing in folding cartons and print packaging solutions. Based in Tullamarine, Victoria, they serve industries such as pharmaceutical, FMCG, automotive, and security markets. </span><br><br><span style="color:rgb(51, 51, 51);"> In June 2022, AMR Hewitts was acquired by Peacock Bros., a leading provider of identification, tracking, and mobility solutions with over 12,000 customers across Australia and New Zealand. </span><br><br><span style="color:rgb(51, 51, 51);"> This acquisition combined over 280 years of printing history, enhancing their capabilities in delivering high-quality labels, tags, thermal ribbons, and packaging products. Peacock Bros., established in 1888, operates across various sectors, including manufacturing, transport, retail, and healthcare, providing comprehensive services from pre-sales evaluation to post-sales support.</span>
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Rental Comparison: Address | Total size (NLA) | Rent $/sqm 29-31 Garden Dr, Tullamarine | 2437sqm | $130/sqm 26 & 26A Ovata Drive, Tullamarine | 2728sqm | $137/sqm 3 Custom Road, Tullamarine | 751sqm | $100/sqm 14/85-91 Keilor Park Drive, Tullamarine | 405sqm | $137/sqm 19 Garden Drive, Tullamarine | 465sqm | $142/sqm 31 Catalina Drive, Tullamarine | 418sqm | $108/sqm 115 Lambeck Drive, Tullamarine | 1760sqm | $150/sqm 49 Lambeck Drive, Tullamarine (For Lease) | 967sqm | $150/sqm Recent Sales: Address | Total size (NLA) | Sale $/sqm 9 Lambeck Drive, Tullamarine | 1100sqm | $3,080/sqm 3-5 Lillee Crescent, Tullamarine | 830sqm | $2,434/sqm 24 Ovata Drive, Tullamarine | 950sqm | $2,947/sqm
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• Purchase Price: $5,200,000<br>• Income: $316,800 p.a.<br>• Net Yield: 6.09%<br>• Net Rent: $130 / sqm<br>• Purchase Rate (on NLA): $2,134 / sqm<br>• Asset Class: Industrial<br>• Market Status: On Market<br>• Age of Asset: Approximately 30-40 years<br>• Unapproved Structures: None reported by the agent<br>• Seller’s Reason for Selling: Consolidation into a larger facility in 12-24 months<br>• Seller & Tenant Relationship: Related parties (Sale & Leaseback)<br>• Tenant Occupancy Start Date: 2021<br>• Last Sold: 2021 for price $3,400,000<br><br>• Land Area: 3,148 sqm<br>• Building Area: 2,437 sqm<br>o Warehouse: 1,658 sqm<br>o Office: 678 sqm (corporate-style across two levels)<br>o Store: 101 sqm<br><br>• Car Spaces: Ample on-site parking<br>• Frontage: 41.38 metres, dual entry/exit points on Garden Drive<br>• Signage: Moderate exposure potential<br>• Fit-Out: Corporate office with partitioned offices, boardrooms, and staff amenities<br>• Lifts: None<br>• Roller Doors: Two at front<br>• Clearance: 7-metre internal clearances in the warehouse<br>• Zoning: C2Z - Commercial 2 Zone
