CorVal 75 George Street Trust
75 George Street, Parramatta NSW 2150
Property Information
| Property | 75 George Street, Parramatta NSW 2150 |
| Commencement | January 2013 |
| Purchase Price | $32.6m |
| Sale Price | $86.3m |
| Equity IRR | 36% |
| Equity Multiple | 3.6x |
Solid B-grade office asset in tightly held Parramatta precinct.
The CorVal 75 George Street Trust is an unlisted property trust which held a single, B-grade office building prominenently positioned in the Parramatta CBD, one of Australia’s tightest office markets. The Property comprised 9,535 sqm of net lettable area over five office levels, plus two retail enancies and basement car parking for 104 vehicles.
With tenancy at 100% on acquisition, the Trust strategy centered around a targeted review of property outgoings leading to immediate savings and a capital experditure program to increase the NABERS rating to 4.5 stars. The Property was sold in January 2018.