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Business Park
Sector
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2014
Acquisition
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$63 million
Acquisition Price
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2017
Sale
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$74 million
Sales Price
The property is a high-tech Business Park located on >4ha site on high profile corner within the Monash Technology Precinct, 19km south east of the Melbourne CBD. The site boasts excellent arterial access via Monash Freeway.
EG’s Core Plus Fund invests in Australian real estate (office, retail, industrial) where EG can enhance returns through re-letting, capital expenditure programs and asset repositioning to secure increased rental returns and capital growth over the medium to long term.
The asset was acquired at well below replacement cost and offered a core style income profile from blue-chip tenants. The site has the potential to deliver additional development and offered multiple exit strategies.
EG established strong relationships with the tenants and began collaborative conversations to evaluate their future intentions and requirements for space.
"The asset benefits from strong lease covenants via two blue chip, long-term tenancies."
