Westpac House

91 King William Street, Adelaide SA

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. The property is considered on of Adelaides premium office towers. Abacus Property Group has a 50% interest in the property.

This building holds a 4.5 star NABERS rating. The property continues to show promising repositioning and leasing opportunities to further grow revenue.

Ownership interest 50%
Cap rate 7.00%
Valuation date June 2017
Acquisition date March 2017 (original purchase 2004)
Site area 4,287m2
Net lettable area 31,725m2
Occupancy 86%
WALE by income 2.5 Years
Rent review stucture CPI and Fixed
Major tenants by income Westpac, HWL Ebsworth and SA Government
Parking spaces 54
Valuation range $80-100 million