Located between Pitt and Castlereagh Streets just 100 metres from Pitt Street Mall, the Piccadilly Complex comprises two office buildings totalling 42,000sqm.

Connected by a two-level retail mall and serviced by a 229-bay car park, Piccadilly Tower provides high quality A-grade accommodation with column free 1,250sqm floor plates, whilst Piccadilly Court is a B-grade building that appeals to more budget conscious occupiers.

Highlights

  • 47,438 SQM
    Total Lettable area
  • $260.5 million
    Book
    Value
  • 4.8 Years
    Weighted Average lease expiry
  • 5.0
    4.5
    Stars
    Energy | water Nabers Rating

Key Features

Building grade A Grade
Ownership 50%
Acquired/built/refurbished 2014/1975 & 1991/2007
Car spaces 229
Lettable area 47,438sqm
Average floor plate 1,250sqm/750sqm
Passing face rent $599psqm pa net
Net property income $13.1m
External valuation/date $260.5m/June 2016
Value/lettable area 47,438sqm
Book value $260.5m
Cap rate 5.99%
Discount rate 7.40%
  • LEASE EXPIRY PROFILE BY INCOME
Vacant
2% OCCUPANCY 98%
FY17
4%
FY18
3%
FY19
15%
FY20
23%
FY21
5%
BEYOND
48%

Major Tenants

Stockland 12,479sqm 26% of NLA

EXPIRY Dec 2023

Uniting Church 6,956sqm 15% of NLA

EXPIRY July 2091

GHD Services 3,739sqm 8% of NLA

EXPIRY Dec 2019