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    87 Marsden Street

    • Parramatta NSW

    • NLA 6,659sqm + 79 Car Bays

    • Purchased July 2011 • Sold January 2015

    • IRR 19.8%
    • TR 76.3%
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    Strategy

    A modern office building with the major tenant a NSW State Government Department.

    We aim to regenerate the building aesthetically and mechanically to target a 4.5 Star NABERS Base Building Energy rating to attract quality tenants, providing stabilised, long-term income to investors.

     

     

     

     

    Activities

    During due diligence, a NSW State Government Department was secured to lease the majority of the building’s vacant space on a new 5 year lease, which increased occupancy to 93% at settlement.

    In late 2012 upgrades were undertaken including the entrance and lobby and a base building services upgrade resulting in a 4.5 star NABERS Base Building Energy rating.

    Outcome

    Following the successful aesthetic and mechanical upgrades the property was sold in Jan 2015 with 100% occupancy with NSW State Government Department.

    4.5 Star NABERS Base Building Energy rating was achieved.

    The building was awarded the Best Commercial Building Energy Efficiency Project at the Energy Efficiency Council (EEC) Annual Award.

     

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