14 Thomas Street, Yarraville NSW
Property redevelopment to deliver a self storage facility and 4 industrial warehouses
Acquisition date: February 2017
Purchase price: $2.4 million
Target Investor return: 2x equity invested over 5 year investment term
Investment partner: Trumen Corporation Pty Ltd
Located in the City of Maribyrnong, which is the smallest (only 31 square kilometres) and most densely populated municipality in the metropolitan area of Melbourne, the property comprises 5,100m2 of net lettable area.
The strategy for the investment is to redevelop the property to deliver a self-storage facility to be managed by Storage King, as well as 4 industrial warehouse units (which will be sold when completed).