2 Kendell Street, Williams Landing, VIC

This multi-level, A-Grade suburban office building is currently under construction, with completion expected in the first quarter of 2019. The building comprises a net lettable area of 12,919 sqm and Target Australia, a wholly owned subsidiary of Wesfarmers (WES:ASX), will occupy 100% of the space on a 10 year lease once construction is complete. The building will feature an anticipated 4.0 star NABERS energy rating, 384 car spaces, a ground floor cafe and modern end of trip facilities.

Asset summary
Property type Office
NABERS energy rating 4 stars
Ownership interest 100%
Title Freehold
Site area 4,401 sqm
Building constructed Under construction
Latest refurbishment N/A
Car park spaces 384
Tenancy summary
Net lettable area 12,919 sqm
Occupancy (by NLA) 100.0%
WALE (by income) 10.0 years
Major tenants (by gross income)
Target 100%
Valuation summary
Most recent independent valuation $58.2m
Valuation date 30 June 2017
Valuer Savills
Capitalisation rate 6.50%

This information is accurate as at 30 June 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.