42-46 Colin Street, West Perth, WA

This property is a modern, A-Grade commercial office building that is located close to the Western Australia parliamentary precinct. This four-story building is well serviced by free public transport and contains premium end of trip facilities.  The major tenant, Insurance Australia Group (IAG:ASX), occupies three levels.

Asset summary
Property type Office
NABERS energy rating 3.5 stars
Ownership interest 100%
Title Leasehold
Site area 5,147 sqm
Building constructed 2002
Latest refurbishment 2017
Car park spaces 145
Tenancy summary
Net lettable area 8,439 sqm
Occupancy (by NLA) 100.0%
WALE (by income) 4.6 years
Major tenants (by gross income)
Insurance Australia Group Ltd (IAG Group) 95%
Geers Sullivan Pty Ltd 5%
Valuation summary
Acquisition price $33.6 m
Most recent independent valuation $33.6m
Valuation date 30 November 2017
Valuer Savills
Capitalisation rate (as at 30 June 2017) 7.50%

This information is accurate as at 31 December 2017. It 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.