10 Eagle Street, Brisbane
The property comprises an office building over 30 levels with associated basement car parking. The property is located in the heart of the 'Golden Triangle' in Brisbane's CBD.
Property details
| Location |
10 Eagle Street, Brisbane QLD |
| Date acquired |
June 2012 |
| CPA ownership |
100% |
Lease expiry profile by income
* Includes vacancies and holdovers
Property breakdown
|
Area (NLA)(sqm) |
%NLA |
%Income |
| Office |
27,996 |
99 |
88 |
Retail |
141 |
1 |
1 |
Carpark |
230 spaces |
- |
10 |
Other |
- |
- |
1 |
Total |
28,137 |
100 |
100 |
Typical floor plate |
950 |
|
|
Valuation
| Valuation ($M) |
205.0 |
| Valuation date |
May 2012 |
| Capitalisation rate (%) |
7.50 |
| Discount rate (%) |
9.25 |
| Terminal yield (%) |
7.63 |
| Discounted cash flow (DCF)(years) |
10 |
| Book value($M) |
208.6 |
Income (six months to December)
| Net Income to CPA($M) |
7.6 |
Major tenants
|
%NLA |
Expiry date |
Next major review date |
| BDO Services |
10 |
Sep 2016 |
Oct 2013 |
| Stanwell Corporation |
8 |
Jun 2015 |
Jul 2013 |
Office statistics
| Vacancy (%) |
10.5 |
| Average passing rent(occupied office)($/sqm)* |
712 |
| Over/(Under) renting (%) |
5.9 |
| Weighted average lease term by income (years) |
3.5 |
| Review type for six months to June 2013 (by area) |
10,668sqm - 100% Fixed |
| Outgoings - statutory($/sqm) |
62 |
| Outgoings - non-statutory($/sqm) |
78 |
| Outgoings - recoverable (%) |
3 |
| Gross leases (area) (%) |
100 |
| Net leases (area) (%) |
- |
* Represents base rent plus recoveries, including increases over base years.
