Noble Park, VIC
GLA 9,411 sqm on Land 23,811 sqm
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.
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).
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.