140 ST GEORGES TERRACE
The improvements comprise a 29 level A grade office tower (plus basement parking over 2 levels) located in a prime position on the CBD at the corner of St Georges Terrace and William Street.
The office tower has 28 upper office floors and the total office NLA is 29,796m2*. The retail component amounts to 102m2* and storage to 373.4m2* and there are modern end of trip facilities.
The basement car park provides access to 282 tenant bays (including 11 motorbike bays) and the public car park which is leased to Wilson Parking and is shared with 152-158 St Georges Terrace (Central Park). The building was last subject to a major refurbishment in 2017 and many of the floors have been subdivided with 57 separate tenancies currently in occupation and a WALE by income of 2.8 years.
The property was sold via an active campaign with several parties reaching the final round to a private fund management business backed by international funds.
| Sale Analysis | |
| Sale Price: | $254,850,000 |
| Sale Date: | April 2021 |
| Site Area: | 2,690sqm* |
| Rate /sqm: | $8,522/sqm |
| Vendor: | Private |
| Purchaser: | Primewest |
*Approximately
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