80 Morisset Street is a rare offering consisting of a high quality office building with secure tenants on a level site of approximately 7,635 sqm that provides future development potential (STCA).
The main building on site comprises of approximately 1,290 sqm of modern and desirable office accommodation. It was originally constructed as the Marco Polo Soccer Club and redeveloped in 2006 to provide a high quality 2 level office building comprising approximately 635 sqm on the ground floor and approximately 655 sqm on the first floor. Each tenancy is individually air conditioned, there are excellent facilities on each floor and an elevator provides disabled access to the first floor.
Tenants in the building include naming tenant Parkhill Financial Planning, 40 Plus Life Clubs, Brindabella Family Practice GP and Specialist Diagnostic Services. The property enjoys a very strong, complimentary tenancy profile with a weighted average lease expiry in excess of 4 years and CPI or 4% annual rent reviews providing structured rental growth.
Financial Summary:
Existing gross income from tenancy schedule: $430,326
Less: 2012/13 FY budgeted outgoings: $101,000
Estimated current net income: $329,326
