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    44 Sydney Avenue

    • Forrest ACT

    • NLA 9,977sqm + 218 Car Bays

    • Purchased March 2015 • Sold November 2017

    • IRR 30.4%
    • TR 87.8%
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    Strategy

    44 Sydney Ave located 200 metres from Parliament House. Built in 2003 the building underwent a significant refurbishment of base building services in 2013.

    Activities

    During purchase due diligence, QE identified additional works were required to achieve a 4.5 Star NABERS Base Building Energy rating. Prior to settlement we installed 87 KW of additional photovoltaic panels on the roof of the building, in order to be able to meet the NABERS rating.

    At the time of purchase the property was only 65% occupied. We took a proactive approach to fully understand the needs of potential tenants including the Department of Foreign Affairs and Trade.

    Outcome

    We completed extensive aesthetic upgrades to the building and grounds and achieved the targeted 4.5 Star NABERS Base Building Energy rating. The property was sold fully leased with the Department of Foreign Affairs and Trade as the anchor tenant.

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