JLL are pleased to exclusively present ‘City Point’ at 101 Sturt Street, Townsville to the market – A highly defensive office investment underpinned by Queensland State Government and Commonwealth Bank of Australia.
'City Point' is a well-connected, centrally located building that offers a staggered lease expiry profile and a WALE of over 5 years, with fixed review mechanisms in place across all leases.
101 Sturt Street is being offered for sale via Expressions of Interest closing Thursday, 25 February 2021 at 4pm (AEST).
- Extensively refurbished asset providing 5,047sqm* (NLA) of high-quality office/retail accommodation
- 5.05 Year WALE (as at April 2021) with a staggered lease expiry profile
- Fully leased net income of $1,661,392p.a* + GST reflecting a below market average gross rent of $397/sqm
- Income secured by leases to Department of Emergency Services (31%)^, Department of Housing & Public Works (37%)^, Queensland Police Service (19%)^, Commonwealth Bank of Australia (11%)^.
- 3.00% - 4.00% fixed annual reviews provide strong annualised growth throughout investment cycle
- A highly connected 4,066sqm* site within walking distance to the recently refurbished Flinders Street precinct and several other core amenity and infrastructure.
- An unrivalled town centre basement car parking ratio of 1:45 (112 bays);
- 64% of total income with a minimum of 6 years remaining and options to extent further
- Set to benefit from an expanding Townville economic base