The property comprises an eight level office building constructed in 1990 with an NLA of 7,737 m2 NLA and two basement levels with 143 car spaces.
Investment Strategy: An opportunity to undertake building refurbishment, re-lease vacant space, reduce building operating costs and seek lease extension and market rental reviews on major tenant leases. Asset management initiatives include full base refurbishment to all floors, a new end-of-trip facility and a ground floor café, along with lift, lobby and landscaping upgrades.
Purchase Price / Date
$23.8m / Sep 2012
Selling Price / Date
$67.6m / Jan 2022
Investor IRR Post Fees
18.1% per annum
