The Cannon Hill Office Trust is an unlisted property syndicate that intends to purchase a quality office building with commercial office accommodation over three levels and a total of 81 secured and unsecured car parks. The asset is situated in one of Brisbane’s fastest growing suburban commercial precincts, the award winning Southgate Corporate Park, just 6.7 radial kilometres south east of the Brisbane CBD. Completed in 2012, 38 Southgate Avenue is the newest building in the park.
||Cannon Hill Office Trust
||Single asset, closed-end, unlisted property trust
||Cannon Hill, Queensland
||Forecast 7.25%pa* paid monthly in arrears following settlement of the Property
||The initial term of the Trust is 5 years from the settlement of the property.
*Forecast only and for the periods ending 30 June 2018 and 2019. Basis of forecast calculations and key assumptions are detailed further in the PDS. Forecasts of future distributions are not a guarantee that they will be achieved and are not indicative of future performance. Net rates are net of fees and management costs.
About the property
38 Southgate Avenue provides 3,502 square metres of quality commercial office accommodation over three levels. A central core configuration with full height glass throughout provides outstanding natural light and adds to the aesthetic appearance of the asset. The building holds a NABERS Energy rating of 5 Stars and with construction completed in 2012, it is the newest building in the Southgate Corporate Park.
The asset has a 53.8 metre frontage along Southgate Avenue and provides tenants with substantial parking with 61 secured basement bays and 20 unsecured on-grade bays, giving a total ratio of 1.42 car spaces per square metre of net lettable area.
The asset is situated at 38 Southgate Avenue, Cannon Hill, in Southgate Corporate Park. A modern suburban commercial precinct, part of Brisbane’s fast growing ‘Gateway precinct’, Southgate Corporate Park is only 6.7 radial kilometres to the Brisbane CBD and provides a modern office park environment.
Anchored by a long list of blue chip tenants, including NAB, the Queensland State Government, Optus, NBN Co. and Honeywell, as well as the anchor tenants of the proposed asset Compass Group, Orica Australia, and GM Holden, the area has seen substantial investment activity from a range of purchasers locally and nationally, further signifying its reputation as an established office destination.
Purpose designed to cater for businesses seeking high level of convenience and connectivity, Southgate Corporate Park is located in a prominent, central location with access to Brisbane’s Gateway Arterial (providing access to both Sunshine and Gold Coasts), Brisbane Airport, Port of Brisbane, Brisbane CBD, and is one of the city’s only suburban office precincts with direct rail access.
The precinct’s strong investment fundamentals also include tenant amenity. Within walking distance of the property is a range of retailers, child care centres, a medical centre convenience stores along with major shopping centres.
Completed in 2012, 38 Southgate Avenue is the newest building in the park and boasts a 5 star NABERS Energy rating.