Located at the western end of Collins Street at the gateway to Docklands, this 26-level building was completed in July 2015 and features 55,000sqm of premium-grade space, including a two-storey foyer comprising a lobby and a high quality retail offering.

The building opened with 78% leased to Leighton Contractors, Jemena, Corrs Chambers Westgarth and Virgin Active with a 4 year lease over the remaining vacancy to Leightons, the developer. This asset has achieved a 5-star Green Star rating and is targeting a 5-star NABERS Energy rating.

Highlights

  • 55,185 SQM
    Total Lettable area
  • $303.7 million
    Book
    Value
  • 10.4 Years
    Weighted Average lease expiry
  • 5.01
    5.01
    Stars
    Energy | water Nabers Rating

1. Targeted NABERS rating

Key Features

Building grade Premium
Ownership 50%
Acquired/built/refurbished 2013/2015/NA
Car spaces 162
Lettable area 55,185sqm
Average floor plate 2,060sqm
Passing face rent $548psqm pa net
Net property income $12.8m
External valuation/date $303.7m/June 2016
Value/lettable area $11,009psqm
Book value $303.7m
Cap rate 5.25%
Discount rate 6.88%
  • LEASE EXPIRY PROFILE BY INCOME
Vacant
0% OCCUPANCY 100%
FY17
0%
FY18
0%
FY19
0%
FY20
0%
FY21
1%
BEYOND99%

Major Tenants

Jemena 14,363sqm 26% of NLA

EXPIRY July 2028

Leightons Contractors 12,890sqm 23% of NLA

EXPIRY July 2027

The Cimic Group 10,402sqm 19% of NLA

EXPIRY June 2024