TRUSTED INDUSTRY CONNECTIONS
To deliver the best possible results for investors and clients, Citylife International Realty and its partners are supported by a national network of top-quality agents, valuers, financiers, legal advisers, property consultants and construction companies.
Strong national connections with leading agents, fund managers and vendors open doors to off-market as well as on-market opportunities and are a source of invaluable intelligence. These relationships are critical to continuously acquire, value-add and re-position carefully selected properties, implementing leading-edge strategies and delivering high risk-mitigated returns.
Our partners ecosystem of professionals in all disciplines relating to property enables us to undertake extensive, detailed due diligence in the property acquisition or planning process.
Our partners staff members are experts in all stages of property development and investment, from planning to finance to construction to leasing and asset management. Investors’ and tenants’ best interests are at the heart of everything we do.
A MODERN 6,659SQM OFFICE BUILDING AND SECURE BASEMENT WITH 79 CAR BAYS.
The major tenant was a NSW State Government department (approximately 45% of net lettable area).
The purchase of the property was negotiated in late 2010 when the building had 53% vacancy. During due diligence, a NSW State Government department was secured to lease nearly all of the building’s vacant space on a new five-year lease, which increased occupancy to 93% at settlement.
The purchase price reflected the fact that the building was only 47% occupied at the time. However, in a relatively short period of time after settlement, the remaining vacant office space was also leased, resulting in 100% occupancy.
Having secured the new State Government tenant, the valuation increased substantially at settlement.
Awarded the Best Commercial Building Energy Efficiency Project at the Energy Efficiency Council (EEC) Annual Awards. The property was commended for showcasing high percentage reduction in energy use, a strong NABERS rating and sustainable solutions in the overall function of the property.
PURCHASED JULY 2011 PRICE $20.5M
SOLD JANUARY 2015 $33.15M
ANNUAL CASH DISTRIBUTION ON INVESTOR'S CAPITAL 9%
NET RETURNS IRR 19.8%
PURCHASED: MARCH 2016 (DEVELOPMENT SITE ONLY)
DECEMBER 2017 (DEVELOPMENT COMPLETED)
The A-Grade office building spans 14 levels and includes a basement, secure on-site parking for 102 cars, ground-floor café, rooftop exercise and BBQ areas, and club style end-of-trip facilities with 100+ bike racks.
The purchase was an under-utilised site with a heritage building with a view to constructing a major office building that preserved the existing heritage façade.
Won a competitive tender process to deliver WorkSafe Victoria’s new headquarters, and oversaw design, financing and construction of a world-class office building that retained the heritage façade.
WorkSafe Victoria’s new headquarters has been designed and built to target a 5.5 Star NABERS Base Building Energy Rating, is the first 6 Star Green Star Rated project in Geelong, and has achieved a Platinum Core & Shell WELL Building Standard Rating – the first in Victoria and only the second in the world to achieve these WELL credentials.
In 2018, the building became the first in Australia to be awarded WELL Precertification by the International WELL Building InstituteTM (IWBI™) for both of the two categories – Core & Shell, and Interiors – together.
The 14 storey, 65 metre tall building was delivered on time, on budget, safely and to exceptional environmental and technical standards.
© Copyright Australian Property Syndicates