May 2018 :: Market Updates
LATEST UPDATE - REFERENCE GUIDE FOR THE NORTH WESTERN SUBURBS
CALCULATE YOUR PROPERTIES CURRENT LEASE OR SALE VALUE WITH OUR SAMPLE TABLES BELOW
Industrial property values both sale and lease vary throughout the different areas of Melbourne and continue to change based mainly on economic performance and general business confidence. We find occupiers of Industrial property forever intrigued as to their current property value be it sale or lease. In response, we provide a value range for vacant land and/or land + buildings throughout the main industrial areas in Melbourne for a quick reference guide to the value of your property.
The North-West region of Melbourne has all but run out of land for future private development. Melbourne Airport controls most of the remaining land in this precinct and are creating an impressive business park based on large distribution buildings, lease only. The lack of future development opportunities, the nearby International Airport and the excellent road network available in this region means capital growth is very likely.
North West (Keilor, Keilor East, Tullamarine)
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A GRADE (Prime position, premium business park, new buildings) |
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Sale |
Lease |
Example Calculation - Sale |
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Land |
$450 - $550m² |
$20 - $30m² |
Vacant land 4000m² x $450m² = $1,800,000 |
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Land + Building |
$1400 -$1700m² |
$95 - $120m² |
Building 3000m², Land 4600m² 3000m² x $1500m² = $4,500,000 + GST |
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B GRADE (General Industrial location, 20 + years old) |
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Sale |
Lease |
Example Calculation - Lease |
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Land |
$380 - $420m² |
$15 - $20m² |
Vacant land 4000m² x $17.5m² = $70,000 +GST+ Outgoings |
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Land + Building |
$1200 - $1300m² |
$75 - $80m² |
Building 3000m², Land 4600m² 3000m² x $90m² = $270,000 PA + GST + Outgoings |
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C GRADE (Average location, 40 + years old building) |
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Sale |
Lease |
Example Calculation - Sale |
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Land |
$300 - $400m² |
$10 - $15m² |
Vacant land 4000m² x $350m² = $1,400.000+ GST |
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Land + Building |
$1100 - $1200m² |
$80 - $95m² |
Building 3000m², Land 4600m² 3000m² x $1150m² = $3,450,000 + GST |
Disclaimer: Each property is unique and the above figures are intended as a guide only and should not be used as a valuation. For an accurate guide on your particular property value contact a registered valuer or Rutherfords Real Estate for a specific agencies opinion.
