April 2017 :: Market Updates
Latest update - Reference Guide for the Western Suburbs
Calculate your properties current lease or sale value for the Western Suburbs
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 overall value’s in the Western suburbs of Melbourne have remained steady for some time now. The change we are experiencing is the impact of significant incentives offered by the larger developers. Incentives have continued to grow over the last 3-4 years to the point that we are now seeing in some cases properties nett effective rentals below $60m2. Possibly the lowest rental environment for 30-40 years.
West (Laverton North, Laverton, Derrimut, Truganina, Sunshine, Ravenhall)
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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 |
$280 - $350m² |
$15 - $20m² |
Vacant land 4000m² x $300m² = $1,120,000 + GST |
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Land + Building |
$1200 -$1500m² |
$67 - $80m² |
Building 3000m², Land 4600m² 3000m² x $1350m² = $4,050,000 + 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 |
$170 - $220m² |
$7 – $10m² |
Vacant land 4000m² x $8.5m² = $34,000 + GST + Outgoings |
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Land + Building |
$1000 - $1200m² |
$50 - $67m² |
Building 3000m², Land 4600m² 3000m² x $58.5m² = $175,500 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 |
$120 - $170m² |
$10 - $15m² |
Vacant land 4000m² x $275m² = $580,000 + GST |
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Land + Building |
$800 - $1000m² |
$25 - $50m² |
Building 3000m², Land 4600m² 3000m² x $900= $2,700,000 + GST |
Disclaimer: Each property is unique and the above figues 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.
