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    14 Moore Street

    • Canberra ACT

    • NLA 11,066sqm + 78 Car Bays

    • Purchased June 14 • Sold March 2019

    • IRR 24.2%
    • TR 167.8%
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    Strategy

    14 Moore Street is modern office building located in Canberra’s CBD. The building is strongly supported by corporate and government tenants.

    Prior to QE purchasing the property, the vendor had undertaken major base building services upgrade works that were designed to target a 4.5 Star NABERS Base Building Energy rating.

    At acquisition the building was only 19% occupied.

    Activities

    QE took an active part in the leasing process to directly understand the needs of potential tenants and also develop long-term meaningful relationships with existing tenants.

    We were open to flexible leasing terms with government and other blue-chip tenants to enhance the leasing prospects.

    Outcome

    Major base building refurbishments were completed on all floors.

    QE undertook a successful marketing campaign to attract new tenants which increased the occupancy rate to 100% in September 2018.

    The building was sold in March 2019.

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