438-517 Kingsford Smith Drive, Brisbane, QLD

kingsford-smith-dr-brisbane-large

438-517 Kingsford Smith Drive, property, developed by Leighton Properties and Devine,comprises two free standing contemporary buildings including secure basement parking, ground floor retail and building entry.

The property is targeting a 5 Star Green Star As Built rating and 4.5 star NABERS Energy rating and was the winner of the QLD UDIA Award for best retail and commercial development for 2013. The property is positioned within the mixed use Hamilton Harbour development, approximately 4.0km from Brisbane’s CBD and International and Domestic airports.

Property Information
Property type Urban REIT
 Ownership interest 100%
 Title Freehold
 Latest external valuation April 2016
 Book value ($m) $74.4
 Capitalisation rate (%) 7.00
 Net lettable area (NLA) 9,328 sqm
 Occupancy (%) 98.0
 Weighted average lease term to expiry (years) 7.5
 Major Tenant Devine – 2,642 sqm
Dominos – 2,614 sqm
Rental guarantee – 2,317 sqm
 Lease expiry Devine – March 2021
Dominos – March 2028
Rental guarantee – March 2019

*Information accurate as at 11.01.2017 and provides a summary of key information in relation to the named property within the Centuria Urban Asset Fund 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.