Acquisition of remaining stake in 121 Marcus Clarke Street, Canberra
121 Marcus Clarke Street, Canberra
Realmont Property Partners is pleased to announce the off-market acquisition of the remaining 50% interest in 121 Marcus Clarke Street, Canberra on behalf of our existing separate account capital partner.
Through our existing mandate, Realmont has enabled its offshore corporate client in expand their existing portfolio of Australian commercial real estate.
121 Marcus Clarke Street, Canberra is a modern commercial A-grade office building completed in 2010 with an interlocked architectural design with low rise having significant campus style large floor plates suited to larger users and protruding high-rise floors suited to corporate tenants. The tower enjoys city views and the curved podium faces the park to the north and Australian National University (ANU) to the west.
Located in a prime position and prominently situated on Marcus Clarke Street within Canberra CBD the property enjoys three street frontages. The building is in close proximity to the new Alinga Street Light Rail Station, City Bus Interchange, Canberra Centre, CBD retail precinct and ANU.
As a multi-tenanted building key occupiers include the Commonwealth of Australia, Ernst & Young, Meyer Vandenberg and JLL. Post-acquisition, Realmont was pleased to extend the lease with Commcare (CoA) for a further 7 years over a total of 8,824 sqm.