Modern 3 level, campus style office building of approximately 7,129sqm
Substantially leased to 2 international tenants.
Major tenant Covidien occupies 4,130sqm on a 6 year lease expiring in 2018.
TV ratings company Nielsen occupies just over 1,551sqm on a lease expiring in 2016.
Both tenants have been long standing occupiers and have expanded their occupation over the years.
The net passing income is approximately $1.65M p.a. When fully leased the net income should increase to approximately $2.13M p.a.
Concept approval has recently been granted for a substantial mixed use development on the adjoining 150 Epping Road. This includes approximately 400 residential apartments, 769sqm retail and 800sqm of commercial.
As such this offering represents an outstanding opportunity to acquire a high quality, substantially leased office investment, in a location that is likely to significantly improve in the short to medium term.