Acquisition of 121 Marcus Clarke Street, Canberra
Realmont is pleased to announce the off-market acquisition of a 50% interest in 121 Marcus Clarke Street, Canberra for $102.9 million on behalf of a separate account capital partner.
Through an exclusive appointment, Realmont has enabled its offshore corporate client in making their maiden commercial real estate investment into Australia.
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.
The asset enjoys a WALE of 5.0 years and as a multi-tenanted building key occupiers include the Commonwealth of Australia, Ernst & Young (who also has signage rights), Meyer Vandenberg and JLL.