Lendlease office fund closes major Canberra leasing deal

8 March 2021

Lendlease’s flagship office fund Australian Prime Property Fund Commercial has secured the Commonwealth of Australia as a major tenant for its Canberra building 25 Constitution Avenue, also known as the Alan Woods Building.

25 Constitution Avenue is an A-Grade building located in the heart of the capital with strong transport links and access to major industry organisations and precincts. The deal comprises 7,150 sqm of high-quality office space over a lease term of 5 years and takes the building to a 100% leased position.

The fund recently undertook an extensive refurbishment of the building, which included a full façade replacement, upgraded foyers and new end-of-trip facilities with secure parking for 100 bikes. The building features a highly adaptable layout with large, flexible 2,400 sqm floorplates. 

Lendlease has worked to improve the building’s sustainability credentials and it now holds a 4.5 Star NABERS Energy Rating and 4 Star NABERS Water Rating. 

Aaron Green from JLL and Daniel McGrath from Knight Frank were appointed as joint agents. 

Micah Schulz, Fund Manager, APPF Commercial said, “We’re delighted to welcome the Commonwealth of Australia to 25 Constitution Avenue. Being in the heart of Canberra, this building is in an attractive core location with close access to parks and retail. 

“Sustainability and wellness is a key focus for APPF Commercial and the enhanced energy and water ratings, along with new end of trip facilities and building upgrades, provides an attractive workplace solution in the nation’s capital.”