2-6 Bowes Street Phillip ACT 2606
- 12,376 m²
- For Sale, Please contact agent
Long WALE office asset with AAA rated income profile
- AAA Rated Lease Covenants
- Secure Long-Term Tenure
- Strategic Town Centre Location
Colliers and CBRE are delighted to present 2-6 Bowes Street Phillip, one of the ACT's best long WALE opportunities providing a secure, AAA-rated income stream with compelling returns. For sale via expressions of interest the asset features the following attributes:
- AAA Rated Lease Covenants - 2-6 Bowes Street serves as the headquarters for the ACT Government's Department of Health (a AAA-rated tenant by Standard & Poors) and is also occupied by the Commonwealth of Australia.
- Secure Long-Term Tenure With Fixed Annual Rental Increases - The ACT Government is in a first-generation lease having committed to an initial term of 15 years plus 2 x 5 options with 3.5% fixed annual rent reviews until 2032.
- Strategic Location - Health Precinct The property occupies a prime position in the Woden Town Centre, Canberra's recognised health hub and geographic centre of the ACT.
- Major Infrastructure Programs with Significant Upside Potential - Transformative infrastructure works are already underway in the Town Centre.
- A-Grade Office Accommodation and Best-In-Class Sustainability Credentials - A significant refurbishment program was undertaken between 2016-2017, leading to a substantially improved NABERS performance of 5.5-stars (current).
- Limited Future CAPEX Requirements - Total expenditure on building improvements has exceeded $15 million, ensuring limited future CAPEX requirements.
- Resilient Canberra Office Market - Canberra has one of the highest levels of staff office occupancies and lowest unemployment rates (3.5%)*in Australia, offering a safe-haven for investors and a market that has continued to provide resilience, most recently through COVID-19.
A 100% Interest in 2-6 Bowes Street, Phillip is offered For Sale via an International Expressions of Interest closing 4:00pm (AEDT), Thursday 21st October 2021.