AMA House, Barton represents an outstanding opportunity to acquire a 100% interest in an asset located in Canberra’s most tightly held office market featuring a diversified income with strong value-add potential.
AMA House is a prominent standalone asset offering 4,053.6sqm of NLA on a large 3,624sqm site with 110 dedicated car spaces. As at 1 November the property is 63% occupied with a WALE of 2.60 years* (by income) to seven tenants including the Australian Medical Association, AI Group and the Australian Institute of Petroleum.
The building was constructed in 1990 and has a current 3-star NABERS Energy rating. AMA House has seen significant investment throughout 2015/2016 in large-scale capital expenditure projects, with the majority of services upgraded and limited capital expenditure required in the near term.
AMA House is situated within Canberra’s most tightly held office market, enjoyed by tenants seeking proximity to Parliament House and key Government decision makers. The surrounding location has seen substantial new development in the past 10 years and offers high levels of amenities within Canberra’s affluent inner south.
property provides purchasers with extensive opportunities to fill existing vacancies and enhance the WALE and income. This offering coincides with favourable forecast leasing conditions for the Canberra office market, with the Barton market currently showing a 0.01% vacancy rate in A Grade space. The above conditions suggest excellent grounds for the strong financial performance over the short to medium term. AMA House, 42 Macquarie Street Barton is offered for sale by International Expressions of Interest closing Thursday 19 October at 4pm AEDT. *As at 1 November 2017