The property comprises two, six-level commercial buildings with associated car parking constructed in late 1997 with 13,568 m2 NLA and 274 car spaces.
Investment strategy: Capture capital appreciation through market rental growth, active asset management and tenancy remixing.
Asset management initiatives included the construction of a new end-of-trip facility, significant upgrades to the base building, lifts, air conditioning, foyers, amenities and landscaping. This has succeeded in maintaining the building’s status as a modern and desirable A-Grade workplace for existing and future tenants.
Purchase Price / Date
$42.0m / Feb 2011
Current Valuation / Date
$151.0m / April 2022
Capital returned to date (% of original invest.)
130.0%
Estimated IRR since inception – PostFees
20.3% per annum
