Description
Space 207 comprises two modern A Grade office buildings constructed in 2002. Building A comprises six upper office levels and Building B has 10 upper levels, each with ground floor retail accommodation. There is secure basement car parking for 200 vehicles over three levels. The office levels offer efficient floor plates of around 1,200sqm with all floors offering abundant natural light and superb district views.
The property is held in a 50/50 joint venture with Eurella Funds Management.
Location
Space 207 is centrally located in the heart of St Leonards CBD, positioned on the prominent corner of Pacific Highway and Herbert Street. Demand for office space in St Leonards has dramatically increased in recent years, with large blue-chip companies such as IBM, Hutchison, Toyota and UBS calling St Leonards home. Space 207 is conveniently located next to the St Leonards train and bus station, and close to banks, restaurants and retail facilities.
Key Information
- OwnershipVPT
- Acquisition31/08/2004
- Purchase Price ($,000)58,500 (50% share)
- Book Value ($,000)72,000 (at 31/12/07)
- Independant Valuation Date30/06/2006
- Independant Valuation ($,000)68,250
- Independant ValuerSavills (NSW)
- Valuation Cap Rate6.75%
-
Net Lettable AreaOffice: 18,324 sqm
Retail: 1,540 sqm - Typical Floor Plate1,200
- Car Spaces200
- Occupancy as at 31/12/2007100%
- No. Of Tenants12
- WALE as at 31/12/20074.2
- Rent Review StructureFixed
- Age of Building2002
Contact Details
- Martin Hanratty
- 02 8257 6706