Investments

South Connect Jandakot’s current “as is” pre-debt valuation is $100.2 million (FY24: $94.3m). A portion of the civil works has been funded by debt, totalling $12.2 million. The pre-tax net equity value of $88.0 million reflects an increase from the prior year of $5.9 million, comprising $2.6 million continued investment in civil works, plus an unrealised pre-tax gain on revaluation of $3.3 million.  South Connect Jandakot is well located to benefit from the increased demand for logistic warehousing driven by the rapid growth in ecommerce. The property has an approximate net developable area of 34 hectares with civil works (roads, sewerage, power, lighting and drainage etc.) now completed.  The site is an institutional grade master-planned estate ready for construction. We are currently in the process of completing detailed design for our first warehouses with construction anticipated to commence in the first half of FY26 as a build to lease project.

The building will be 13,500 square metres of warehouse, on 27,000 square meters of land, broken up into three tenancies.  Each tenancy will have its own office, a 38m wide private service yard, and 10m awning suitable for B-double trucks.

Images: Artist’s Impression – planned warehouse at South Connect, Jandakot.