Share this property

JLL - Brisbane

'City Point', 101 Sturt Street Townsville City, QLD 4810

Directions

'City Point', 101 Sturt Street,
Townsville City, QLD 4810

Offices • Shop & Retail • Other

Price information

Sold

$26,000,000

Key property information

Land area

Floor area

Property extent

Tenure type

Sold on

JLL - Brisbane
Jacob Swan
Elliott O'Shea

JLL - Brisbane

Central Plaza One Level 39, 345 Queen Street
BRISBANE CITY, QLD 4000
JLL - Brisbane
'City Point', 101 Sturt Street
Townsville City, QLD 4810

Map of 'City Point', 101 Sturt Street

Directions

Secure Government Leased Asset

JLL are pleased to exclusively present ‘City Point’ at 101 Sturt Street, Townsville to the market – A highly defensive office investment underpinned by Queensland State Government and Commonwealth Bank of Australia.
 
'City Point' is a well-connected, centrally located building that offers a staggered lease expiry profile and a WALE of over 5 years, with fixed review mechanisms in place across all leases.

*Approximate

101 Sturt Street is being offered for sale via Expressions of Interest closing Thursday, 25 February 2021 at 4pm (AEST).

• Extensively refurbished asset providing 5,047sqm* (NLA) of high-quality office/retail accommodation
• 5.05 Year WALE (as at April 2021) with a staggered lease expiry profile
• Fully leased net income of $1,661,392p.a* + GST reflecting a below market average gross rent of $397/sqm
• Income secured by leases to Department of Emergency Services (31%)^, Department of Housing & Public Works (37%)^, Queensland Police Service (19%)^, Commonwealth Bank of Australia (11%)^.
• 3.00% - 4.00% fixed annual reviews provide strong annualised growth throughout investment cycle
• A highly connected 4,066sqm* site within walking distance to the recently refurbished Flinders Street precinct and several other core amenity and infrastructure.
• An unrivalled town centre basement car parking ratio of 1:45 (112 bays);
• 64% of total income with a minimum of 6 years remaining and options to extent further
• Set to benefit from an expanding Townville economic base

Property ID: 503744070Last Updated: 2 Mar 2022

JLL - Brisbane
Central Plaza One Level 39, 345 Queen Street
BRISBANE CITY, QLD 4000
progress tick

Sending email...

Make an enquiry

What's your enquiry about?

Message

Enter your details

Name (required)
Email address (required)
Phone number
Comment

Your personal information will be passed to the Agency and/or its authorised service provider to assist the Agency to contact you about your property enquiry. They are required not to use your information for any other purpose. Our Privacy Policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

More properties from JLL - Brisbane

Other properties you might be interested in based on the location and property type you are looking at.