The property is located in the north eastern city fringe, within a gentrifying precinct of the Perth-Armadale rail line and east of Beaufort Street. The area contains a number of older style commercial and industrial premises as well as recently developed commercial and mixed use developments.
Workzone East was completed in 2013 and is a modern, market relevant 7 storey office building offering A grade accommodation. It has been designed incorporating many state of the art energy saving and technological features, and is designed to meet a 5 star NABERS rating. Floor plates are large, typically 1,950 square metres, and feature as a side located core to maximise floor plate efficiency. Significant glazing is a feature of all elevations for penetration of natural light. Extensive end of trip facilities are included.
Our analysis of this transaction is based upon the tenancy position at the date of sale and not on the tenancy position at the date of listing for sale.
Sale & Tenancy details
|Sale Date||December 2016|
|Vacancy (by area)||0.0%|
|WALE (by area)||9.30 years|
|WALE (by income)||9.05 years|
|Net Lettable Area (NLA)||12,361 m²|
|NABERS Rating||5 star|
|Gross Passing Income||$7,160,922 p.a.|
|Gross Market Income||$6,193,496 p.a.|
|Adopted Outgoings||$1,558,121 p.a.|
|Net Passing Income||$5,602,801 p.a.|
|Net Market Income||$4,635,375 p.a.|
|Passing Yield (fully leased)||8.21%|
|Gross Passing Income||$579/m²|
|Gross Market Income||$501/m²|
|Net Passing Income||$453/m²|
|Net Market Income||$375/m²|
For further details please contact:
Property Valuation & Advisory (WA)
Unit 2, 168 Stirling Highway, Nedlands WA 6009Follow Us
This analysis relies upon third party sources of information.While the resources are considered reliable, their accuracy cannot be guaranteed. We therefore accept no liability for any reliance on our analysis.