The property is part of the Forum complex, a master planned development completed in the early 2000s. The Forum is located at the foot of the St Leonards railway station providing excellent amenity and proximity for tenants. The Forum consists of a number of stratums including 201 Pacific Highway, an adjoining office building and a number of residential towers.
201 Pacific Highway comprises an A grade building which includes 13,841m2 of office, 2,688m2 of retail and 262 car spaces. The retail comprises 20 tenancies in the Forum plaza adjoining the railway station. This building holds a 3.5 star NABERS rating.
We are exploring a stratum sub-division of the retail and office to enable the sale of individual strata retail shops to retail investors. We expect them to trade at substantially reduced cap rates to the original acquisition cap rate.
|Valuation date||March 2015|
|Acquisition date||August 2015|
|Net lettable area||16,499m2|
|WALE by income||2.1 Years|
|Rent review stucture||CPI and Fixed|
|Major tenants by income||Cisco Systems, Coles, NAB and Primary Health Care|
|Valuation range||$60-70 million|