Potential net income $2.8m (HOA signed to take building to 100% occupancy)

87 Marsden Street, Parramatta, New South Wales 2150

Office For Sale

Expressions of Interest. EOI Date 30 Oct 2014
Land Area: 1,563.00 m2.    Floor Area: 6,659.00 m2.    

Building Class: B
Car Spaces: 79   

Description

Refurbished, appealing 6,659sqm commercial building over 7 levels with 79 car spaces. The building is currently 96% leased with potential income of $2,800,000 and passing income of $2,650,000 (note that a HOA has been agreed with the NSW State Government that will take the building occupancy to 100%). Nearly half of the building is leased to the NSW State Government, with the balance leased to strong covenants.

Following an extensive refurbishment to mechanical services in 2012, the building has a 4.5 Star NABERS Energy Rating and was awarded the Best Commercial Building Project at the 2013 Energy Efficiency Council of Australia annual awards. The building has a WALE of 3.1 years, with A-Grade vacancy in Parramatta at an all-time low of 0.2%. The property has excellent access to the Parramatta Rail/Bus interchange and the Westfield shopping centre.

For Sale via International Expression of Interest closing 4pm Thursday 30 October 2014.

Features

  • Efficient floor plates up to 1,000sqm
  • Potential income $2.8m, passing $2.65m
  • 4.5 Star NABERS Energy Rating
  • Mechanical refurbishment in 2012
  • WALE of 3.1 years

Specifications

NABERS Rating 4.5-star NABERS Energy Rating
Car Parking Details Carparking spaces available at $250 per car space per calendar month plus GST (plus Levy).

Transaction Details

08 Aug 2018
87 Marsden Street, PARRAMATTA NSW 2150, AUSTRALIA

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