This building was comprehensively refurbished in 2013 following a lease renewal to MLC until 2020.

The property fronts two main streets and Mount Street Mall in the core North Sydney market. Pedestrians have access via an underpass to North Sydney railway station and Greenwood Plaza, an established presence for shoppers.

Highlights

  • 28,596 SQM
    Total Lettable area
  • $225.5 million
    Book
    Value
  • 4.0 Years
    Weighted Average lease expiry
  • 5.0
    3.5
    Stars
    Energy | water Nabers Rating

Key Features

Building grade A Grade
Ownership 100%
Acquired/built/refurbished 1998/1957/2000
Car spaces 132
Lettable area 28,596sqm
Average floor plate 1,880sqm
Passing face rent $405psqm pa net
Net property income $13.4m
External valuation/date $225.0m/Nov 2015
Value/lettable area $7,868psqm
Book value $225.5m
Cap rate 6.75%
Discount rate 7.75%
  • LEASE EXPIRY PROFILE BY INCOME
Vacant
1% OCCUPANCY 99%
FY17
2%
FY18
3%
FY19
1%
FY20
0%
FY21
92%
BEYOND
0%

Major Tenants

NAB 27,158sqm 95% of NLA

EXPIRY Sep 2020