CALCULATE YOUR PROPERTIES CURRENT LEASE OR SALE VALUE FOR THE NORTHERN SUBURBS
Industrial property values vary throughout the different areas of Melbourne and continue to change, based mainly on economic performance and general business confidence. We find occupiers of Industrial property are forever intrigued as to their current property value be either for sale or lease. In response, we have provided a quick reference guide to the value of your property in the table below.
The Northern suburbs industrial property market has seen significant capital growth in certain pockets in the past 12 months. The “hot” spots have been mainly around the new Hume Freeway and Cooper street upgrade. These improved road networks prove the significant impact accessibility has on industrial property value. On average land values have increased by 20-30% and in some areas even more. There has been a “rush” on land as supply hits an all-time low.
North (Campbellfield, Craigieburn, Epping, Somerton, Thomastown)
|
A GRADE (Prime position, premium business park, new buildings) |
|||
|
Sale |
Lease |
Example Calculation - Sale |
|
|
Land |
$300 - $450m² |
$17 - $20m² |
Vacant land 4000m² x $300m² = $1,200,000 |
|
Land + Building |
$1300 - $1600m² |
$85 - $100m² |
Building 3000m², Land 4600m² 3000m² x $1350m² = $4,050,000 + GST |
|
B GRADE (General Industrial location, 20 + years old) |
|||
|
Sale |
Lease |
Example Calculation |
|
|
Land |
$190 - $270m² |
$7 - $10m² |
Vacant land 4000m² x $200m² = $800,000 + GST - Sale |
|
Land + Building |
$1150 - $1300m² |
$67 -$77m² |
Building 3000m², Land 4600m² 3000m² x $70m²= $210,000 PA + GST + Outgoings - Lease |
|
C GRADE (Average location, 40 + years old building) |
|||
|
Sale |
Lease |
Example Calculation - Sale |
|
|
Land |
$170 - $190m² |
$5 - $7m² |
Vacant land 4000m² x $190m² = $760,000 + GST |
|
Land + Building |
$870 - $1000m² |
$50 - $65m² |
Building 3000m², Land 4600m² 3000m² x $900m² = $2,700,000 + GST |
Disclaimer: Each property is unique and the above figures are intended as a guide only and should not be used as a valuation. For an accurate guide on your particular property value contact a registered valuer or Rutherfords Real Estate for a specific agencies opinion.
by Drew Williams in Latest News
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