Office For Sale
Floor Area: 4,675.00 m2.
Commonwealth Government Building
12-14 The Circuit Brisbane Airport, completed in November 2007, comprises 4 levels of office accommodation, ground level foyer, and 1 level of basement parking. Developed by Ray White Invest and built by Ray White Construct, the building is a 4,675m² NLA, PCA-A Grade office building with typical floor plates of 1,152m²-1,182m² NLA. With a central core and very few internal columns, the building allows flexible design and space efficient tenancy fitout with high levels of natural light penetration.
• Brisbane Airport Corporation will invest $3.8 billion in projects over the next decade including the New Parallel Runway, new car parks and access facilities, terminal expansions, road upgrades, and new aprons and aeronautical facilities.
• The Brisbane Airport is a suburb in its own right, the largest airport in Australia by land size (2700 hectares) and the third largest airport in Australia by passenger numbers with more than 22 million passengers travelling through the airport in FY15. There are more than 420 businesses at Brisbane Airport with a combined workforce of more than 21,000 people, which is expected to grow to 50,000 people in the next 20 years.
• The Property Council of Australia (PCA) began monitoring the Brisbane Airport office market in January 2014, as a direct result of its recognition as rapidly evolving “satellite” market having attracted a multitude of government, national, and multi-national tenants and institutional investors. The total market size is 78,284m² with a vacancy rate of just 2.2% (July 2016).
• The Civil Aviation Safety Authority, like the Australian Customs and Border Protection Service and Australian Federal Police, all relocated from CBD and Metro areas to the Brisbane Airport over the past decade due to the synergies the airport has with the nature of their very purpose. The amenity and transport options available for staff within the Skygate precinct are very good. For this reason they are all very “sticky” tenants, which is evidenced by the high retention rate.
Offered for sale by way of an Expressions of Interest process closing Thursday 16th February 2017 at 5.00pm (AEST).
- 4,675m2 NLA
- 5 star NABERS rating
- 3.0 years WALE (as at 1 Dec 2016)
- 5 year option term
- $2,206,940m2 p.a Net Passing Income
||5.0 - Star NABERS Energy rating
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