Office

101 Sturt Street, Townsville

101 Sturt Street Townsville City, QLD Australia 4810
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Building Area
Land Area ()

Property Description

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.


*Approximate


101 Sturt Street is being offered for sale via Expressions of Interest closing Thursday, 25 February 2021 at 4pm (AEST).

Investment Highlights

  • 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
Last Updated Date: 27 Jan 2021
Elliott O'Shea
Elliott O'Shea
Head of Metropolitan Sales & Investments - QLD
Jacob Swan
Jacob Swan
Joint Head of Retail Investments - Australia

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Last Updated Date: 27 Jan 2021

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