Metcash Balcatta 6-8 Geddes Street, Balcatta WA
Property Overview and Strategy
The property comprises a large mid-age industrial office and warehouse developed on two allotments (Lots 34 & 36).
It is located in the well-regarded and tightly held industrial/commercial hub of Balcatta which is 12 kilometres north of the Perth CBD and close to major transport links, including Mitchell Highway Eastlink.
The property has a combined land area of 19,794m2 with wide street frontages to both Geddes and Kenhelm Streets. The large site offers further development potential.
The property is operated as a wholesale supermarket and is fully occupied by IGA Distribution (WA) Pty Ltd with a lease now in place until December 2026.
The adjacent Kenhelm st land area is 3000m2 and is leased to Bomax as a hard stand.
The Geddes St & Kenhelm sites are subject to amalgamation with combined land area of 22,794m2
|
Major Tenant |
NLA sqm |
% NLA |
Expiry |
Rent Review |
|
IGA Distribution WA |
6,961 |
70% |
18 Dec 2027 |
Annual CPI |
6-8 Geddes Street, Balcatta WA
|
Property information as at 31 December 2023 |
|
|
Book value |
$18.65m* |
|
Capitalisation Rate |
6.00% |
|
Net Lettable Area (sqm) |
9,961 |
|
Occupancy (by NLA) |
100% |
|
WALE |
3.0 years |
|
Building constructed |
1991 |
|
Latest refurbishment |
2013 |
Notes: (1) * Consolidated for reporting purposes - includes 5 Kenhelm Street, Balcatta, WA.
- Highlights
- Gallery
- Location
Highlights
ASSET INFORMATION
|
Location |
Balcatta, WA |
|
Asset Type |
Industrial |
|
Lettable Area (m2) |
9,992 |
|
Occupancy by Income (%) |
100.0% |
|
Weighted Average Lease Expiry by Income (Years) |
2.6 |
|
Year Constructed |
1991 |
|
Last Refurbishment |
2013 |
|
Major Tenant/s |
Metcash |
|
Website |
Gallery
Location