Virginia Park

Bentleigh East, VIC

Virginia Park is a sizeable business park providing a mixture of industrial and office buildings as well as supporting facilities including gymnasium, swim centre, child care centre, children’s play centre, café, yoga centre and martial arts centre.

Virginia Park is situated predominately in a residential location in Bentleigh East approximately 13 kilometres south east of Melbourne. The site has recently been enhanced following the purchase of a neighbouring site that offers expansion potential while a section has been approved for residential development. Abacus is currently assessing its development options for the site.

This property is held in joint venture with a private investor.

Ownership interest 50%
Cap rate 8.00%
Valuation date September 2015
Acquisition date April 2006
Site area 123,460m2
Net lettable area 57,077m2
Occupancy 80%
WALE by income 2.5 Years
Rent review stucture CPI and Fixed
Major tenants by income Xtralis, Vision Systems and Officeworks
Parking spaces 1,680
Valuation range $50-60 million