12-26 Franklin Street comprises 17 levels of office space and basement parking for 114 vehicles.
The property is located within the core office precinct of the Adelaide CBD and forms part of the City Central precinct, a redevelopment that includes the existing GPO building. The building has been certified with a 5 Star Green Star Office As Built v3 rating and a base building 5.5 star NABERS Energy rating.
It is fully leased to four tenants including the major tenant, the Commonwealth of Australia (represented by the Australian Taxation Office).
Lease Expiry Profile1 By gross passing income (REIT ownership interest).
|Tenant||NLA (sqm)||NLA (%)||Expiry (date)||Review (%/CPI)|
|Commonwealth Government (ATO)||30,979||84%||Oct-27||3.75%2|
|SA Government (SA Lotteries)||277||1%||Jan-19||3.25%|
2 Effective market rent reviews apply at the rental review due in November 2017 and 2022, subject to a 10% cap and collar.
|Fund Ownership||50% DOF, 50% CLW|