Dawkins Occhiuto are pleased to exclusively present for your consideration this exceptional opportunity to acquire a rare city fringe office portfolio - Botanicca 7 & 9, Swan Street, Richmond. The portfolio comprises two high quality office buildings located within the prestigious Botanicca Corporate Park, which includes the corporate headquarters of renowned companies such as FujiFilm, Bunnings Warehouse, David Jones, Country Road and Mitsubishi. Additionally, the park is home to the distinguished Element Hotel (Marriot).
Botanicca 7 comprises an established and high quality 6-level building with a total NLA of 6,587sqm* and 177 car bays. The building features substantial floor plates, complemented by expansive terraces providing excellent light-filled office accommodation. The building is currently 100% leased to multinational and national covenants including Fulton Hogan and Golder Associates. Competitive office rentals and staggered lease expiries provide a platform for future growth.
Botanicca 9 comprises an as-new 5-level building completed in 2019 with a total NLA of 6,960sqm* and 232 car bays. The building offers prime accommodation with first class end of trip facilities, glazed façade with natural light available from all sides, and attractive depreciation benefits with minimal capital expenditure required. The property is currently 67% leased to various major multinational tenants including Fujifilm, Servier Pharmaceuticals and NuVasive. There is a considerable opportunity to complete the leasing, extend the WALE and enhance the tenancy profile of this building further.
A summary of the office portfolio is as follows:
- Combined total NLA of 13,547sqm* and 409 car spaces
- 3% leased to a compelling tenancy profile
- 3.8-year* WALE with staggered lease expiries
- Net Passing Income of $6 million p.a.* with further upside
- Estimated Fully Leased Net Income of $7.4 million p.a.*
- Excellent depreciation allowances
- 5.5 Star (Botanicca 7) and 5-Star (Botanicca 9) NABERS Energy Ratings
- Substantial combined site area of 8,752 sqm*
- Flexible Commercial 1 zoning
- Hyper connected & popular city fringe location anchored by public transport, Yarra River trail & unique outlooks
This exceptional portfolio is offered for sale in-one-line via Expressions of Interest campaign closing Friday 8 September 2023 at 4.00pm (AEST).
Please contact exclusive selling agents, Dawkins Occhiuto for more information.
*Approximately as at 1 August 2023
^Includes 5-year renewal to Golder Associates from 1-Feb-25, lease documentation is to be finalised
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