Project Description

Status Current investment
Acquisition date & price March 2015 $45.6 million
Net lettable area 7,715 sqm office & retail
157 basement car spaces
Investment rationale – Location
– Repositioning potential with 21% vacancy
– Below market rents
End Value $81 million
Major tenant(s) Multi tenanted
Current external valuation $63.5 million as at February 2016
Annual distributions to date 8.5%
Total return per $1 invested $1.41 (including distributions) *
Equity IRR (2 year) 42.1%