51-61 Bolton Street, Newcastle

Acquisition Price
$35.501m

Acquisition Date
2020

Building Size
6,142sqm

Vehicle
Private Capital

NABERS Ratings
Energy 5* Water 4.5* Waste N/A

The asset comprises of two five-level commercial buildings with a total net lettable area of 6,142sqm and a site area of 3,629sqm. The asset is well located in a well-established major commercial market with proximity to Newcastle Beach (and its light rail stop), James Fletcher Hospital, Newcastle Grammar, and immediate access to retail amenity. The asset benefited with a WALE of 9.2 years with 85% of the asset being leased to either government or listed entities.

Based on Marprop’s track record, it will adopt its proven ‘Beyond Grade’ strategy to upgrade amenities with the inclusion of end-of-trip facilities to create a better workplace experience for all tenants. It intends to do so by progressively working with future tenants and incumbent tenants to secure re-leasing as expiries approach. The site also benefits from an R4 zoning.