42-46 Colin Street, West Perth, WA

42-46 Colin Street, West Perth is a modern, A-Grade commercial office building bearing close proximity to the Western Australia parliamentary precinct. The building comprises of five levels and is well serviced by free public transport, contains substantial end of trip facilities and is currently undergoing an amenities upgrade. The major tenant, Insurance Australia Group (IAG:ASX), currently occupies four levels on a recently reset market lease.

Asset summary
Property type Office
NABERS energy rating 3.5 stars
Ownership interest 100%
Title Leasehold
Site area 5,147
Building constructed 2002
Latest refurbishment N/A
Car park spaces 145
Tenancy summary
Net lettable area (by NLA) 8,439
Occupancy (by NLA) 100.0%
WALE (by income) 4.5 years
Major tenants (by gross income)
IAG Group 100%
Valuation summary
Book value $33.6m
Most recent independent valuation $33.6m
Valuation date 30 Jun 2017
Valuer Savills
Capitalisation rate (current) 7.50%

Information accurate as at 30 June 2017 and provides a summary of key information in relation to the named property within the Centuria Industrial REIT portfolio. Information is in summary form only and investors should refer to the Fund’s published financial statements and other disclosures for further information and detail on the portfolio.