Real I.S. sells office property in Canberra, Australia for A$363.5m

Real I.S. sells office complex in Canberra, Australia for A$363.5m

Real I.S. has sold a Fully-let office property, the headquarters building of Geoscience Australia, in Canberra to Charter Hall for A$363.5 million.

The fully-let office complex, built in 1997 by the Australian government, is located at 101 Jerrabomberra Avenue.

The property consists of a main building and an annex. It has a total rental area of approximately 32,660 square metres and offers 24,786 square metres of office space and 7,107 square metres of life science area. There are also 652 car parking spaces and a childcare centre that occupies an area of around 766 square metres. Thanks to the building’s proximity to the Monaro highway and several bus stops, the centre of the Australian capital is within easy reach.

“The sale of the Geoscience headquarters building, with a transaction volume of A$363.5 million, was the largest deal ever seen in the history of Canberra,” commented Michael Wecke, Managing Director at Real I.S. Australia Pty Limited.

The Geoscience headquarters property is located right in the heart of Symonston, at the southern edge of the city of Canberra and about seven kilometres from the central business district (CBD).

Canberra was designed as the political and administrative centre of the Australian government. The city is seat of the Federal Government and other governmental authorities. Canberra is situated on Australia’s east coast, in the Australian Capital Territory (ACT).

“The property was purchased in 2007, when we launched our Bayernfonds Australien 2. The sale of the property is part of the planned divestment within the frame of our long-term investment strategy,” said Axel Schulz, Global Head of Investment Management at Real I.S. AG.