CorVal 40 Cameron Avenue Trust
40 Cameron Avenue, Belconnen ACT 2617
|Property||40 Cameron Avenue, Belconnen ACT 2617|
|Land Size||16,620 sqm|
|Building Size||14,910 sqm NLA|
|Target Equity IRR||10-12%|
Substantial A-Grade office building with future development upside.
The CorVal 40 Cameron Avenue Trust is an unlisted property trust, holding a substantial A-grade office building located on the corner of Cameron Avenue and Chandler Street, Belconnen.
The Trust strategy is centered around capitalising on the high-quality nature of the existing office building by seeking to re-lease the existing vacancy, and ultimately selling the office building as a repositioned, substantially let investment. While on acquisition the Property was largely vacant, a successful letting strategy has driven occupancy to 99% with a Weight Averge Lease Expiry of 2.4 years and a comprehensive re-leasing strategy in hand for expected vacancies.
RF CorVal will seek to add value to the under-utilised parts of the Property through development approvals and potentially a full scale residential and/or office development, should these present an optimal outcome for Trust investors.