58 Mounts Bay Road, Perth
The property comprises an office building over 16 levels with associated above-ground car parking. The building was completed in June 2010. The property is located opposite Westralia Square in the Perth CBD, with frontages to Mounts Bay Road and Mercantile Lane.
Property details
| Location |
58 Mounts Bay Road, Perth WA |
| Date acquired |
November 2009 |
| CPA ownership |
50% |
Lease expiry profile by income
* Includes vacancies and holdovers
Property breakdown
|
Area (NLA)(sqm) |
%NLA |
%Income |
| Office |
22,304 |
99 |
94 |
Retail |
101 |
1 |
1 |
Carpark |
96 spaces |
- |
5 |
Other |
- |
- |
- |
Total |
22,405 |
100 |
100 |
Typical floor plate |
1,570 |
|
|
Valuation
| Valuation ($M) |
103.0 |
| Valuation date |
December 2012 |
| Capitalisation rate (%) |
8.00 |
| Discount rate (%) |
9.75 |
| Terminal yield (%) |
8.25 |
| Discounted cash flow (DCF)(years) |
10 |
| Book value($M) |
103.0 |
Income (six months to December)
| Net Income to CPA($M) |
3.9 |
Major tenants
|
%NLA |
Expiry date |
Next major review date |
| Clough Projects |
70 |
May 2022 |
Jun 2013 |
Office statistics
| Vacancy (%) |
- |
| Average passing rent(occupied office)($/sqm)* |
822 |
| Over/(Under) renting (%) |
(5.0) |
| Weighted average lease term by income (years) |
8.7 |
| Review type for six months to June 2013 (by area) |
20,836sqm - 100% Fixed |
| Outgoings - statutory($/sqm) |
49 |
| Outgoings - non-statutory($/sqm) |
107 |
| Outgoings - recoverable (%) |
100 |
| Gross leases (area) (%) |
- |
| Net leases (area) (%) |
100 |
* Represents base rent plus recoveries, including increases over base years.
