Located on the north side of St Georges Terrace, this A-grade building was completed in 1990 and boasts a central CBD address between William and Barrack Streets.

It has 11 levels of attractively sized floor plates of 1,000sqm and a side core providing an abundance of natural light. The property includes two retail tenancies, 66 car bays, and ample storage. End-of-trip facilities were also completed in 2014.

Highlights

  • 11,523 SQM
    Total Lettable area
  • $67.0 million
    Book
    Value
  • 3.1 Years
    Weighted Average lease expiry
  • 3.5
    3.0
    Stars
    Energy | water Nabers Rating

Key Features

Building grade A Grade
Ownership 100%
Acquired/built/refurbished 2012/1990/NA
Car spaces 66
Lettable area 11,523sqm
Average floor plate 1,000sqm
Passing face rent $718psqm pa net
Net property income $4.4m
External valuation/date $65.5m/Nov 2015
Value/lettable area $5,684psqm
Book value $67.0m
Cap rate 7.75%
Discount rate 8.50%
  • LEASE EXPIRY PROFILE BY INCOME
Vacant
39% OCCUPANCY 61%
FY17
0%
FY18
40%
FY19
3%
FY20
2%
FY21
0%
BEYOND
16%

Major Tenants

Subsea 7 2,014sqm 17% of NLA

EXPIRY Feb 2018

Manpower Services 1,513sqm 13% of NLA

EXPIRY Jun 2023

Dimension Data 1,007sqm 9% of NLA

EXPIRY Jun 2018