Orion Opportunity Fund
15 Orion Road,
Lane Cove West, NSW, 2066
15 Orion Road is a 9,838sqm mixed-use office/warehouse facility with parking for 229 cars on a 7,078sqm site in Lane Cove West. The Property was built in 1988 and comprises an eight-level commercial building, with warehouse facilities, and an attached two-level office building. The typical office floor plate size is circa 1,000sqm, and the lettable area is apportioned approximately 70% office, 29% warehouse and 1% retail (café).
The acquisition of 15 Orion Road, Lane Cove West represented an opportunity to acquire a well-located office/warehouse facility at a ‘below replacement value’ purchase price (equivalent to a capital rate of $2,134 per sqm). Since acquiring the building, the Investment Manager has completed a series of upgrades, including new passenger lifts, foyer upgrade and building repaint. The building has attracted a number of leading tenants, including in the medical equipment and supplies sector.
| Fund Status | Sale of Property completed (June 2022) |
| Acquisition Price | $21.0m (February 2016) |
| Divestment Price | $31.5m |
| Investor Return on Equity | 85% ($1.00 invested = $1.85 returned) |
| Investor Internal Rate of Return | 15.0% p.a. (Forecast) 12.5% p.a. (Actual) |
