The property comprises a Landmark “A” grade freehold office building located at 51 Cattley Street, Burnie with 3,720 m2 NLA and 5 car spaces on site.
Investment strategy: To benefit from high income returns from Federal and State Govt tenants and seek lease extension and market rental reviews when major tenant leases come up for renewal.
Asset management achievements include leasing of all vacant space and growing net income by 10%. The valuation has increased by 7.3%.
Purchase Price / Date
$10.25m / October 2021
Current Valuation
$11.00m / September 2023
Estimated IRR to Date
7.1% per annum
