CorVal Workzone Trust
1 Nash Street, Perth WA 6004
Property Information
| Property | "WorkZone West" 1 Nash Street, Perth WA 6004 |
| Commencement | December 2016 |
| Building Size | 12,362 sqm NLA |
| Purchase Price | $68.3m |
| Target Equity IRR | 10-12% |
Counter cyclical A-grade office investment in Perth CBD fringe.
The CorVal Workzone Trust is an unlisted property trust established to acquire “WorkZone West” a newly constructed, A-Grade building providing high-quality, campus style office accommodation on the fringe of the Perth CBD.
The Property comprises a new new, A-grade office building that provides 12,362 sqm of office space over a ground level and six upper levels, with parking for 83 basement car bays. There are also state of the art end-of-trip facilities, landscaped surrounds and the building is on track to achieve a minimum 5 Star NABERS Energy Rating.
The Trust strategy works to this being a counter cyclical investment in the Perth market and gaining exposure to this market through the acquisition of a high-quality A-Grade property. At the time of acquisition the Perth office market represented a significant pricing discount to other Australian markets as a result of the subdued leasing conditions, which allowed for the Property to be secured at attractive pricing.