73 Northbourne Avenue,
City, ACT 2601

JLL and CBRE are delighted to present 73 Northbourne Avenue, Canberra ACT for sale by Expressions of Interest closing Friday 11 March 2016 at 3:00pm (AEDT). 73 Northbourne Avenue is leased primarily to the Australian Fisheries Management Authority (AFMA) and Dixon Advisory along with three (3) other high-caliber private sector tenants and is one of the most recognisable buildings in Canberra.

Providing A-grade office accommodation standards with strong environmental credentials, 73 Northbourne Avenue offers a diverse income stream from a mix of Blue Chip and AAA rated tenants resulting in a weighted average lease expiry (WALE) of 3 years by income at 1 February 2016 (approximately).

This well-managed asset has benefited from a comprehensive Capital Expenditure (CAPEX) program with a total expenditure of approximately $4.3 million since 2007 and is currently performing to a 4.5-Star NABERS Energy rating, whilst targeting 5-Stars upon the next review in December 2016.

73 Northbourne Avenue offers investors a perfectly timed opportunity to acquire a modern refurbished office building located prominently at the gateway to Canberra’s CBD, with a striking glazed façade ensuring the property retains timeless character. The asset offers the following key investment highlights:

• A-grade office standards set on prime corner position
• Passing net income of $2,626,887 pa at 1 June 2016 (approx.)
• WALE of approximately 3 years by income at 1 February 2016
• Assured income growth via fixed annual rent increases
• A long occupation history in a precinct that has good retention rates
• 4.5-Star NABERS Energy Rating, and targeting 5-Star by Dec 2016
• Well-managed asset with a comprehensive CAPEX program
• Above average car parking ratio of 1 space per 66sqm of NLA
• Residential use permitted in the Crown Lease purpose clause
• Ground floor tenancies with high exposure to major arterial roads