THE CURRIE STREET TRUST
Updated: Oct 9, 2020
[NOW OPEN ]
The Currie Street Trust is purchasing an A-grade office building at 27 Currie Street in the Adelaide CBD ("the Property"). The property consists of a historic building with an award-winning modern redevelopment.
27 Currie Street has 14,086sqm of a gross lettable area of approximately 2,900sqm.
Investment in the property represents a “refurbishment” and “lease-up” opportunity.
Purchase Price $31m
Site Area 2,900 sqm
Gross Lettable Area 14,086 sqm
Current Occupancy 29%
Projected returns on equity
Forecasted Capitalisation Rate 13% (fully leased)
Forecasted Internal Rate of Return (IRR) 12 -18%
Forecasted recurring distribution from Year 3 13 -14% pa