555 Coronation Drive, Brisbane, QLD

555 Coronation Drive, Brisbane is a prominent three storey office building featuring two and a half levels of basement parking for 175 vehicles. Constructed in 1990 and progressively refurbished over the last four and a half years, the building contains open floor plates of approximately 2,000 sqm with good natural light and river views. In late 2016, to further enhance to appeal of the property to prospective tenants, both the end of trip facilities and foyer were upgraded.

Asset summary
Property type Office
NABERS energy rating 4 stars
Ownership interest 100%
Title Freehold
Site area 3,104
Building constructed 1990
Latest refurbishment 2017
Car park spaces 175
Tenancy summary
Net lettable area (by NLA) 5,591
Occupancy (by NLA) 87.1%
WALE (by income) 3.3 years
Major tenants (by gross income)
CSC Australia 44%
State Mercantile 32%
Chandler Macleod Services 23%
Valuation summary
Book value $31.5m
Most recent independent valuation $33.1m
Valuation date 15 May 2016
Valuer CBRE
Capitalisation rate (current) 8.0%

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.