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180 Browns Road

Projects

180 Browns Road

Location

Noble Park, VIC

Size

GLA 9,411 sqm on Land 23,811 sqm

PURCHASE Date

June 2013

Sold

February 2020

Completed

TR

18.8

%

180 Browns Road
180 Browns Road
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Pre-acquisition, Quintessential successfully negotiated a new 12 year lease with two option terms of 7 years for the entire property, with the long-standing occupant.

Strategy

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).

Outcome

Notwithstanding the relatively passive nature of this investment we continually focused 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 Quintessential investing in an extension to the warehouse component of the facility. Property was sold in February 2020.