14 Lee Street, Sydney
The property comprises an office building over eight levels with associated basement car parking and ground floor retail. The property is located in the southern precinct of the Sydney CBD and is adjacent to Central railway station with frontage to Lee Street.
Tenant leasing and building information is available at 18leestreetsydney.com
Property details
| Location |
14 Lee Street, Sydney NSW |
| Date acquired |
October 2002 |
| CPA ownership |
100% |
Lease expiry profile by income
* Includes vacancies and holdovers
Property breakdown
|
Area (NLA)(sqm) |
%NLA |
%Income |
| Office |
13,500 |
94 |
85 |
Retail |
883 |
6 |
7 |
Carpark |
90 spaces |
- |
8 |
Other |
- |
- |
- |
Total |
14,383 |
100 |
100 |
Typical floor plate |
2,000 |
|
|
Valuation
| Valuation ($M) |
70.0 |
| Valuation date |
September 2012 |
| Capitalisation rate (%) |
8.00 |
| Discount rate (%) |
9.50 |
| Terminal yield (%) |
8.50 |
| Discounted cash flow (DCF)(years) |
10 |
| Book value($M) |
70.0 |
Income (six months to December)
| Net Income to CPA($M) |
2.7 |
Major tenants
|
%NLA |
Expiry date |
Next major review date |
| State Property Authority |
94 |
Jun 2015 |
Jul 2013 |
Office statistics
| Vacancy (%) |
- |
| Average passing rent(occupied office)($/sqm)* |
483 |
| Over/(Under) renting (%) |
(15.7) |
| Weighted average lease term by income (years) |
2.7 |
| Review type for six months to June 2013 (by area) |
Nil |
| Outgoings - statutory($/sqm) |
24 |
| Outgoings - non-statutory($/sqm) |
113 |
| Outgoings - recoverable (%) |
100 |
| Gross leases (area) (%) |
- |
| Net leases (area) (%) |
100 |
* Represents base rent plus recoveries, including increases over base years.
