Mobile Version

1 Nash St, Perth - Workzone East web

Property Location

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.

Property Description

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.

Tenancy and Leasing Information

At the date of sale, the building was 100% leased to 4 tenants offering substantial covenants being BP, Leighton, Telstra and JDSI Consulting Engineers.

Comments

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

Analysis

Sale Price
Sale Date
Purchaser
Vendor

Vacancy (by area)
WALE (by area)
WALE (by income)

Net Lettable Area (NLA)
NABERS Rating

Gross Passing Income
Gross Market Income
Adopted Outgoings
Net Passing Income
Net Market Income

$68,250,000
December 2016
Corval
Charter Hall

0.0%
9.30 years
9.05 years

12,361 m²
5 star

$7,160,922 p.a.
$6,193,496 p.a.
$1,558,121 p.a.
$5,602,801 p.a.
$4,635,375 p.a.

Passing Yield
Passing Yield (fully leased)
Market Yield
IRR
Terminal Yield
NLA Rate

 

Gross Passing Income
Gross Market Income
Adopted Outgoings
Net Passing Income
Net Market Income

8.21%
8.21%
7.43%
8.30%
7.75%
$5,521/m²

 

$579/m²
$501/m²
$126/m²
$453/m²
$375/m²

For further details please contact:
Gavin Chapman – Managing Director
gavin.chapman@pvawa.com.au
(08) 6500 3600
Property Valuation & Advisory (WA)
Unit 2, 168 Stirling Highway, Nedlands WA 6009

Follow 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.