Asset Portfolio
357 Collins Street
357 Collins Street
357 Collins Street
357 Collins Street
357 Collins Steet
357 Collins Street
357 Collins Street
357 Collins Street
357 Collins Street
357 Collins Steet
357 Collins Street

Located in the heart of the Melbourne CBD, 357 Collins Street is a 25 storey freehold office building with Grade A specifications. 357 Collins Street occupies a central position in the financial precinct of the Melbourne CBD with Collins Street regarded as a prime office location in the Melbourne CBD. 357 Collins Street is also close to Bourke Street Mall, Melbourne's retail heart which offers numerous arcades and malls, speciality shopping and department stores.

357 Collins Street has well-established pedestrian, vehicle and public transport access. The property is well served by public transports such as the Flinders Street Station, which serves the entire Melbourne metropolitan rail network, whilst the Southern Cross Station, the major railway station and transport hub for Melbourne, is the terminus of the State's regional railway network, suburban rail services and a coach terminal. Trams also run through Collins Street with tram stops located at several intersections on Collins Street.   

357 Collins Street has a 5.5 star National Australian Built Environment Rating System ("NABERS Energy1") Energy rating (with green power) and 4.5 star NABERS Water rating.

NABERS rating rates the environmental performance of existing buildings according to best practices for environmental performance.

ADDRESS

357 Collins Street, Melbourne, Victoria 3000, Australia 

TENURE

Freehold

NET LETTABLE AREA (NLA)

343,616 sq ft

(31,923 sq m)

Car park spaces

41

PURCHASE PRICE

A$222.5 million

(S$226.6 million) *

ACQUISITION DATE

18 August 2015 

valuation as at 30 september 2017

A$285.0 million

(S$303.1 million) ^ 

 * Based on the exchange rate of A$1.00 =S$1.0186

^ Based on the exchange rate of A$1.00 = S$1.0636

Financial Information

Financial years FY15*  FY16  FY17
Gross revenue ($ '000) 2,370  21,064 22,478 
Net property income ($ '000)  1,856 16,376 16,995
Occupancy rate (at end of period)  98.4% 100.0% 100.0%

* For the period from 18 August 2015, being the date of acquisition of 357 Collins Street up to 30 September 2015

Lease expiry profile as at 30 September 2017

Lease expiry profile FY18 FY19 FY20 FY21 FY22+
Number of leases expiring 11 3 7 3 14
NLA (sq ft) expiring 35,478 12,002 103,829 17,707 174,601
Expiries as % total NLA 10.3% 3.5% 30.2% 5.2% 50.8%
Expiries as % total Gross Rental Income 12.8% 3.9% 27.5% 5.4% 50.3%