Garema Court, 140-180 City Walk
City, ACT 2601
Core Canberra CBD Office Asset Underpinned by AAA Covenant
- Prime CBD location adjacent to amenities
- 100% office occupancy with AAA covenant
- 4.3 year WALE with fixed annual reviews
Garema Court is a seven (7) level A Grade office building with ground floor retail completed in 1996 and refurbished in 2010, 2012 and 2019. The asset features 11,438m² of Net Lettable Area (NLA) and 66 dedicated basement car spaces. The efficient 5.5-star NABERS rated building (with Green Power) is set within Canberra’s absolute core, with significant frontage (72m) to Garema Place.
Garema Court provides purchasers with a compelling investment proposition featuring the following key attributes:
• 100% office occupancy – 10,821m² NLA underpinned by the Commonwealth of Australia (95.03% of total NLA).
• AAA rated covenant – The most secure tenant profile possible with the Commonwealth of Australia awarded a ‘AAA’ credit rating.
• Passive cashflow – A 4.3 year* WALE by income and fixed rental reviews from 3.75% - 4.00% provides excellent growth prospects over the term.
• Canberra’s Most Central Location – A commanding CBD presence fronting Garema Place offers an unrivalled location. Positioned adjacent to numerous infrastructure projects and within a dynamic and evolving retail and office precinct.
• Value-enhancing Opportunities – Multiple avenues to enhance asset value with 2,066m² site area and flexible floorplates ranging from 1,225m² to 1,841m².
• High quality, efficient asset - One of few Canberra CBD buildings with a 5.0-star NABERS Energy rating and 5.5-star rating with Green power.
• Net passing income - $5.25m* ex. GST
*Approximately as at 1 November 2019
With its core CBD location and income underpinned by the AAA rated Australian Commonwealth Government, Garema Court represents an exceptional investment opportunity.
Property ID: 503361750Last Updated: 11 Nov 2019