Altis Property Partners has listed a significant Canberra office asset for sale which is expected to fetch close to $80 million, amid predictions that ACT commercial property sales will top $1 billion this year for the first time.
CBREās Nic Purdue, Michael Andrews and Scott Gray Spencer have been appointed to market the 2-6 Bowes Street building in conjunction with Colliers Internationalās Paul Powderly and Matthew Winter.
The six-level, 12,376sqm Woden Town Centre building is the headquarters for the ACT Governmentās Health Directorate and currently houses the ACT COVID response team.
The asset offers a strong 9.4-year WALE by income, fully backed by government tenants.
āWoden Town Centre is Australiaās public health policy hub, and the market is underpinned by a concentrated health workforce,ā Canberraās Head of Capital Markets, Nic Purdue, said.
āThis, coupled with the buildingās long WALE and strong government tenancy covenants, coupled with the fact that Canberra is being recognised as one of the best performing office markets in the country, is expected to generate significant investor interest in the sale campaign.ā
Mr Winter noted that transformative infrastructure development was occurring in the surrounding area, including light rail Stage 2B, the $500 million Canberra Hospital expansion and new Canberra Institute of Technology campus.
āIn addition, the building has been substantially upgraded and offers a 5.5 Star NABERS Energy rating, which demonstrates its future resilience and the need for limited capital expenditure,ā Mr Winter said.
āLow unemployment and Canberraās robust office occupancy rates will be another investor drawcard.ā
Expressions of Interest for 2-6 Bowes Street close October 21, 2021.
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