Westpac House is a premium grade office property located in central Adelaide with four street frontages. The property comprises a 31 level office tower and two small office buildings.
An active leasing program is underway with terms agreed on approximately 2,000sqm and a rolling refurbishment about to commence on vacated areas. A refurbishment of the ground floor lobby has been completed with a repositioning of the retail amenity to follow.
| Ownership interest | 50% |
| Cap rate | 6.75% |
| Valuation date | June 2019 |
| Acquisition date | March 2017 |
| Site area | 4,287m2 |
| Net lettable area | 31,429m2 |
| Occupancy | 78% |
| NABERS rating (Energy) | 4.5 |
| NABERS rating (Water) | 3.0 |
| WALE by income | 2.40 |
| Rent review stucture | CPI and Fixed |
| Major tenants by income | Westpac, HWL Ebsworth and SA Government |
| Parking spaces | 54 |
| Valuation range | $60-80 million |