The property offer 13,568 square metres of office space and is securedly leased to Just Group, Hardie Grant Publishing, Mattel, Ipsos Australia, and Parragon Publishing.
The Manager identified this property as an opportunity to take advantage of a combination of income from a range of quality tenants and capital appreciation through future rental growth, active asset management, tenancy remixing.
The investment strategy was to
- Re-lease vacancy (Ground & Level 1) in Building 1
- Pursue optional renewal in Building 1 for Just Group
- Relocation and consolidation of Just Group into whole of Building 2 and initiate market rental reviews on option take up.
- Reduce building operating costs
- Consider future residential development option
The Manager has undertaken significant upgrades to the lifts, air conditioning, foyers, amenities and landscaping to maintain the building status a modern and desirable “A Grade” workplace for its commercial occupants