Completed

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.

PROPERTY DETAILS

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

Investment Performance

• Fund terminated   Dec 2011
• Selling Price:          $23.0 M
• Investor IRR           49%

Podco Todd Road Co-Investment Fund

Todd Road, Port Melbourne

The properties known as 187 Todd Road, Port Melbourne, was acquired in May 2014 for $26.25 million.

PROPERTY DETAILS

The Property was constructed in 2001 and enjoys local prominance with three street frontages. The building features three office levels with large floor plates of 2,150m2 to 5,000m2. The total building NLA is approximately 9,306m2 with two levels of deck parking providing 344 spaces.

The Property is located on the western side of Port Melbourne, approximately 5kms from the City. It has frontages to Todd Road, Wharf Road and Wirraway Drive.

Investment Performance

• Property Sold   Nov 2017
• Selling Price:          $43.50 M
• Investor IRR           24.8%