40 Market Street, Melbourne
40 Market Street, Melbourne is an A Grade core office building in an excellent Melbourne CBD location with strong certain long-term cash flow. 40 Market Street is a 14 storey building with offices on the upper 9 levels, ground floor retail and 2 levels of basement car parking. A strategic acquisition of the adjoining Heritage building was completed in 2017.
- A Grade Melbourne CBD Office
- Purchased 100% interest in 2014 on behalf of institutional client
- Office NLA 12,000 sqm
- Leased to Powercor Australia Limited for 15 years
- Purchase value $105 million
- Expected cash yield of circa 8% pa
- Expected 10 year term pre-tax IRR of circa 10-11% pa
- JGS created the off market investment opportunity through its relationships.
- The well-known capacity of JGS and its client to review, qualify and complete transactions was a key determinant in the vendor’s consideration of the exclusive dealings in a highly competitive capital market
Key JGS Property Disciplines
- Property Advisory
- Property Investment
- JGS ran due diligence process, all commercial negotiations and managed legal process.
- Development Management