ALLCO Commercial Real Estate Investment Trust and Record Realty have settled on their joint venture $218 million purchase of the Centrelink building in Canberra.
The Centrelink building is a new contemporary designed, five storey A Grade office complex with a net lettable area of approximately 430,556 sq ft (40,000 sqm).
It is strategically located within the core of the Tuggeranong Town Centre.
The Centrelink building will be fully leased by the Centrelink for an initial period of 18 years from July 04, 2007. The rental structure incorporates a rental escalation of 3.0% per annum for each year of the lease.
Australian Property Journal
