• Sold
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant
Core Canberra CBD Office Asset Underpinned by AAA Covenant

For Sale

Expressions of Interest 14th Nov 2019 Colliers International, Ground Floor 21-23 Marcus Clarke Street, Canberra ACT 2601
Colliers International are pleased to present Garema Court, 140-180 City Walk, Canberra for sale by International Expressions of Interest closing 4pm (AEDT), Thursday 14 November 2019.

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 Details

  • 10/03/2020
  • Contact our experts for details on this transaction