181 BELMONT_
181 great eastern highway and 46 Cleaver Street, BELMONT
Acquired in June 2021, the 10,700m2 of land comprises a three-level office building with a net lettable area of 4,036m2. The building is 100 per cent leased by NRW Holdings Limited (NRW) until 2026.
The property comprises two separate lots, with the office building and 109 car bays located on 181 Great Eastern Highway (5,746m2), and a further 126 car bays located at 67 Cleaver Street (4,956m2). The two properties are connected via a green pedestrian pathway known as ‘Severin Walk.’
The asset has been acquired on an initial 7.7% yield, and will provide a 9.4% per annum commencing return to the ADC_ investors via monthly distributions, that will increase over the seven year investment term.