Project Description

Address

241 O’Riordan St, Mascot, NSW 2020

Purchase price

$128.4 million

Acquisition date

24 May 2017

Description

Prominently positioned on two main arterial roads, O’Riordan Street and Qantas Drive, the property is directly opposite Sydney Airport Domestic terminal and next to the Stamford Plaza hotel, approximately 8km south of the Sydney CBD. The building has high exposure to the passing traffic of approximately 35,000 cars per day and new LED signage on all four sides. The property has excellent transport connections given its immediate proximity to Sydney Airport, Mascot Train Station and major highways including Southern Cross Drive and the M5, as well as Port Botany.

Features

241 O’Riordan Street is an A-grade office building with ten floors over 19,000sqm. The property was extensively refurbished in 2014/2015 and offers a contemporary fitout, ground floor café, two levels of basement parking for 399 cars, premium end of trip facilities and an onsite gym.

Key tenants

The NSW Government, AbbVie, NewsLink, Landis+Gyr, Coates Hire, Deutsche Bank and Colliers International.

Passing yield

6.6%

Weighted average lease expiry (WALE)

5.5 years

IMAGE GALLERY