221 London is a 1968 modernist icon that provides 8,549 sqm NLA over 12 levels. The building has been carefully refurbished by the Molonglo Group to modern standards utilising a consultant team including Arup, , resulting in an operationally efficient building with a 4.5-star NABERS Energy rating.
Income in the property is derived from multiple high-quality government and corporate tenants including the ACT Government, Anglican Church, Macquarie Telecom, Capgemini, DDLS amongst others. Significantly, 63.8% of tenants in the building have been in occupation for multiple lease terms and the building has historically benefitted from steady occupation rates.
221 London Circuit is prominently positioned in the heart of the Australian Capital, on the main street of Canberra CBD. Opposite the ACT Legislative Assembly, the property is situated in the rapidly evolving City East precinct of Canberra. The area surrounding 221 London Circuit is undergoing a generational transformation with extensive government and private investment including ten new development projects are underway totalling $632.6* million in investment.
This property deserves the attention of investors wanting a value-add asset in a growing location.
- Interest for sale: 100% leasehold interest
- Net lettable area: 8,549sqm
- Site area: 1,106sqm
- Typical floor plate: Approx. 760sqm
- Occupancy: 94%*
- Weighted Average Lease Expiry (WALE): 2.98 years by income*
- Frontages: 49.5m to London Circuit and 19.6m to Nangari Street
- Zoning: CZ1: Core Zone under the ACT Territory Plan (2008) (1)
- Environmental ratings: 4.5-star NABERS Energy rating
- * as at 30 June 2020
For Sale by Expression of Interest, closing 4pm AEST Thursday 30 July 2020.