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Noble Park VIC
GLA 9,411sqm on Land 23,811sqm
Purchased June 2013 • Sold February 2020
An industrial property located within the Noble Park industrial precinct, a major business hub in Melbourne’s south eastern suburbs, 27km from the Melbourne CBD.
The property was purchased on a sale lease back agreement from Arrium Limited (OneSteel Reinforcing).
Pre-acquisition, QE successfully negotiated a new 12 year lease with two option terms of 7 years for the entire property, with the long-standing occupant.
Notwithstanding the relatively passive nature of this investment we continually focueds on developing and maintaining a strong relationship with the tenant.
In 2016 the tenant agreed to extend the lease for a further 5 years with QE investing in an extension to the warehouse component of the facility.
Property was sold in February 2020.