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    8 Dunlop Court

    • Bayswater VIC

    • GLA 24,919sqm on Land 59,840sqm

    • Purchased February 2012  •  Sold December 2017

    • IRR 23.2%
    • TR 182.6%
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    Strategy

    8 Dunlop Court is a substantial industrial site of 5.98 hectares, located within the industrial precinct of Bayswater, approx 35km east of Melbourne CDB. The site has three main steel frame saw-tooth design warehouse/factory areas and a more modern factory (circa mid-1990s).

    At settlement, the property was fully leased to two tenants – Veyance Belting (90% of the area) and Rapid Pacific Roll Coverings (10% of the area).

    Activities

    QE worked closely with the tenants to ensure their long-term requirements were adequately met and secure their ongoing commitment.

    The property was 100% occupied on long-term leases and a substantial mid-term rental increase was negotiated with the major tenant within four months of settlement. Some upgrade works to improve the facilities for the tenant were also undertaken.

    We continually focused on developing a strong relationship with the tenants, to ensure the tenant’s occupancy needs were met on an ongoing and long-term basis.

    Outcome

    New long-term leases were signed with all tenants.

    This property was sold in Dec 2017.

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