Coburg

Project Description

In January 2014, the Trust purchased Lincoln Mills; an established Bunnings Warehouse and eight large format retail showrooms in Coburg, Victoria. The property was acquired from a private owner for $60 million (including acquisition costs).

The 4.9 hectare property is situated on the north side of Gaffney Street, just west of its intersection with Sydney Road in the suburb of Coburg, approximately 9 kilometres north of Melbourne. The property comprises a total lettable area of 24,728 square metres with approximately 426 car parking spaces. The Trust is currently committed to expand the Bunnings Warehouse at a cost of $2.5 million.

Land area

49,940 m²

The total GLA/retail area

24,728 m²

Lease Commencement Date

3/11/2008 *

Total Property Cost

$60,501,745

Current valuation

$69,700,000

Annual Rent

$5,238,915

Project Location

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