Hoxton Distribution Park, NSW

Hoxton Distribution Park,
Intersection of M7 and Cowpasture Road,
Hoxton Park, NSW
IN PROGRESS

DESCRIPTION

Major industrial project comprising two distribution centres 100% preleased to Woolworths Limited. Building 1 comprises a 90,000 sqm state of the art purpose built facility for BIG W. Building 2 is a 43,500 sqm national distribution centre which will house Dick Smith.

OWNERSHIP

100% Mirvac Limited

SUMMARY INFORMATION 
VALUATION AS AT
31 DECEMBER 2011		N/A
VALUERN/A
LAST EXTERNAL VALUATIONN/A
PROJECT COST$192.4m1
YIELD ON COST8.01%
ACQUISITION DATEJul 10
FORECAST COMPLETIONFY12

PROJECT UPDATE

Practical completion achieved in August 2011 for Building 2 (Dick Smith) and October 2011 for Building 1 (BIG W), 5 months ahead of the original development plan for both. Binding agreement entered into in September with AVIVA to sell a 50% interest in both warehouses for $97.4m. Settlement expected at the end of March 2012.

1) includes costs associated with the residual land lot
   (settled June 11).