The property occupies a rectangular block of circa 7,800sqm spanning between Collins Street and Bourke Street in the heart of Melbourne's Docklands main commercial office precinct. The property is surrounded by major commercial office towers and has almost immediate access to Southern Cross Station.
The property is a heritage listed former railway warehouse of the late of the late 19th century (known as the Goods Shed) which was transformed into a two level commercial office building in 2010 following a significant refurbishment and development program. A four storey retail and commercial building has been added at the Collins Street end. The property is substantially leased to the Victorian Government until 2024.
The potential to redevelop to add further commercial and retail space is currently under review with consultants engaged and discussions underway with relevant authorities.
|Valuation date||December 2018|
|Acquisition date||December 2014|
|Net lettable area||11,320m2|
|NABERs rating (Energy)||5|
|NABERS rating (Water)||3|
|WALE by income||4.98|
|Rent review stucture||Fixed|
|Major tenants by income||Minister of Finance and Victorian Buidling Authority (VBA)|
|Valuation range||$100-130 million|