54 Marcus Clarke Street, Canberra ACT

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54 Marcus Clarke Street is a multi-tenanted building located in the Western Core of Canberra’s CBD.  It offers nine levels of office accommodation, ground floor retail, a two-storey podium to Rudd Street and one level of basement parking.  Recent major capital expenditure works have included lift and chiller upgrades together with refurbishments to some common area amenities.

Property Information
Property type Office
Ownership interest 100%
Title Leasehold
Purchase price $14.2m
Net operating income $1.4m
Initial yield 9.80%
Site area 1,667 sqm
Net lettable area (NLA) 5,155 sqm
Occupancy (by NLA) 85.8%
WALE (by NLA) 2.6 years
Building constructed 1986
Latest refurbishment 2016
Car park spaces 48

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

Independent Valuation
Valuer Knight Frank
Valuation date 15 May 2016
Valuation $16.3m
External Capitalisation rate 9.25%