The building is well located in a prominent position in the CBD's western precinct.

Enjoying views over Darling Harbour and out to Pyrmont Bay, the building height was extended in 1997 from the original 13 storeys to 20. This increased the total A-grade office accommodation to 26,000sqm with an additional 1,590sqm of ground floor retail space. The building has a 4-star NABERS Energy rating.

Highlights

  • 26,261 SQM
    Total Lettable area
  • $275.0 million
    Book
    Value
  • 2.8 Years
    Weighted Average lease expiry
  • 4.0
    3.0
    Stars
    Energy | water Nabers Rating

Key Features

Building grade A Grade
Ownership 100%
Acquired/built/refurbished 1999/1997/2005
Car spaces 100
Lettable area 26,261sqm
Average floor plate 1,240sqm
Passing face rent $1,031psqm pa gross
Net property income $24.7m
External valuation/date $275.0m/Nov 2015
Value/lettable area $10,472psqm
Book value $275.0m
Cap rate 6.13%
Discount rate 7.50%
  • LEASE EXPIRY PROFILE BY INCOME
Vacant
0% OCCUPANCY 100%
FY17
0%
FY18
1%
FY19
97%
FY20
0%
FY21
0%
BEYOND
2%

Major Tenants

ANZ 24,808sqm 94% of NLA

EXPIRY Jan 2019

Bowery Bar 917sqm 3% of NLA

EXPIRY May 2030

Ishida & Associates 259sqm 1% of NLA

EXPIRY Jan 2019