For the first time in nearly 20 years, Garema Court, one of the national capital’s most recognisable buildings, is for sale by Dexus via Colliers International.

Located at 140-180 City Walk in the heart of the CBD, Garema Court is set to be the most in-demand investment property to go to market this year in the nation’s capital.

Directly opposite the city’s largest shopping precinct, the Canberra Centre, Garema Court occupies a prominent position in the CBD. 

At a glance:

• Garema Court, one of Canberra’s most recognisable buildings, comes to market for the first time in nearly 20 years
• The property has NLA of 10,820.8 square metres across seven levels
• The building is 100 per cent occupied by the Commonwealth Government with a current lease in place for another four and a half years

Colliers International State Chief Executive Paul Powderly said that investors would be attracted by the quality of tenant and Canberra’s exceptionally low A-Grade vacancy rate which presently sits at 1.7 per cent in the CBD.

“The property has an office NLA of 10,820.8 square metres across seven levels and is 100 per cent occupied by the Commonwealth Government, a AAA credit rated tenant,” Powderly said.

“The current lease does not expire for another four and a half years and there are a number of value-enhancing opportunities to explore.”
 
Colliers International Associate Director, Matthew Winter, said that tenants were now focussing on quality accommodation with access to amenity being a paramount consideration.
 
“Garema Court is in a prime position, surrounded by stores, places to eat, banks, gyms and health facilities as well as the new ACT light rail Stage 1 terminus and bus interchange,” he said.

“These are all positives for long-term tenant retention and demand for space in the building. 

“With a NABERS Energy Rating (with Green Power) of 5.5 Star, Garema Court is also an efficient, environmentally-friendly office building.
 
“Garema Court will be a sound investment for the new owner, with fixed rental increases of 4 per cent per annum, the opportunity presents a compelling investment opportunity.” 

Garema Court is being sold via an International EOI process closing on 14 November 2019. 

Similar to this:

Canberra's liveability continues to rise

Doma submits Works Approval for 10th office building amid warming Canberra office market

Parc Village development expands popular Canberra shopping and business centre