582-600 Somerville Road Sunshine West VIC 3020

CBRE is pleased to offer 582-600 Somerville Road, Sunshine West for sale via Expressions of Interest closing Thursday, 15th May 2025 at 4pm AEST.

Comprising three warehouse facilities, the asset is fully leased to Iron Mountain Australia Group Pty Ltd, a globally recognised entity and subsidiary of NYSE listed Iron Mountain Incorporated (NYSE:IRM). The asset generates a net income of $2,767,560 p.a. with 3.8 years remaining on the lease plus 3 x 4 year options.

Investment Highlights:

+ Fully leased to blue chip tenant Iron Mountain Australia Group Pty Ltd, a subsidiary of Iron Mountain Incorporated listed on the NYSE (NYSE:IRM)
+ 3.8 year WALE (as at 1 July 2025)
+ Net passing income of $2,767,560 p.a. with annual 3.0% rent increases
+ 3 x 4 year options with uncapped market reviews
+ Three functional warehouses with a combined GLA of 18,450sqm
+ Landholding of 4.4Ha with low site cover of 42%
+ Two separately titled land parcels
+ Multiple value add opportunities (STCA)
+ Low vacancy of 2.29% in Melbourne's inner west and proven rental growth
+ Premier inner west location, 12kms from Melbourne's CBD

The property is situated in the highly land constrained suburb of Sunshine West. The asset's proximity to the Port of Melbourne (8km), Melbourne CBD (12km), connectivity to major transport links and established residential catchments will underpin future occupier demand, particularly among 'last mile' occupiers.

EXPRESSIONS OF INTEREST CLOSE THURSDAY 15TH MAY 2025 AT 4PM AEST.

For more information, contact the selling agents from CBRE.