This 24 storey A-grade building offers 18,600sqm right in the heart of the North Sydney CBD.

The property is of 4-star NABERS Energy rating, enjoys functional 960sqm floor plates and has an attractive outlook with good natural light throughout. The property has twice been refurbished, ensuring that it continues to represent a competitive commercial offering for high quality tenants.

Highlights

  • 18,668 SQM
    Total Lettable area
  • $173.2 million
    Book
    Value
  • 2.8 Years
    Weighted Average lease expiry
  • 4.0
    3.5
    Stars
    Energy | water Nabers Rating

Key Features

Building grade A Grade
Ownership 100%
Acquired/built/refurbished 2004/1974/1993 & 2006
Car spaces 164
Lettable area 18,668sqm
Average floor plate 960sqm
Passing face rent $609psqm pa net
Net property income $10.4m
External valuation/date $173.0m/Nov 2015
Value/lettable area $9,267psqm
Book value $173.2m
Cap rate 6.50%
Discount rate 7.75%
  • LEASE EXPIRY PROFILE BY INCOME
Vacant
0% OCCUPANCY 100%
FY17
4%
FY18
11%
FY19
63%
FY20
4%
FY21
11%
BEYOND
7%

Major Tenants

Broadspectrum 6,337sqm 34% of NLA

EXPIRY July 2018

NBN Co 1,953sqm 10% of NLA

EXPIRY Aug 2018

Nextgen.NET 1,810sqm 10% of NLA

EXPIRY June 2019