Podco Co-Investment Fund No. 1
Doncaster Road, Doncaster
The property, located at 591 – 605 Doncaster Road, Doncaster, was acquired in December 2009 for $17.3 million.
The property comprised four (4) separately titled two-level commercial buildings with associated car parking enjoying prominent exposure to Doncaster Road, constructed between 1994 – 1998.
The property offered 8,921 square metres of office space and was securedly leased to Silverstone Jaguar, Ambulance Victoria, Hanson Construction Materials, Guardian Security and Shaver Shop.
The investment strategy was to
1. Re-lease vacancies
2. Reduce building operating costs
3. Commence a Strategic sell down of buildings once 1) and 2) completed
• Fund terminated Dec 2011
• Selling Price: $23.0 M
• Investor IRR 49%