News

Acquisition of modern Canberra office building announced

26 November 2015

Acquisition of modern Canberra office building leased to the Australian government for 11.8 years.

Growthpoint Properties Australia (“Growthpoint”) is pleased to announce that it has entered transaction documents for the acquisition of 255 London Circuit, Canberra, Australian Capital Territory (“Property”) for $70 million. 

The Property is 100% leased to the Commonwealth of Australia represented by the Department of Foreign Affairs and Trade (“DFAT”) for a remaining term of 11.8 years providing an initial yield of 6.53%1 with fixed annual rent reviews of 3.8%2.

For further information about the acquisition please download the following PDF document:

 


Notes

1. Excluding acquisition costs. 

2. Excludes market rent reviews in 2018 and 2023 which have a floor of 0% and a ceiling of 5%.