The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OfficeMon 15 Jan 18

Centuria buys TAC building for $115m from Impact Investment Group

1b96157c-d98f-46b3-adc3-25440eeffd6d

Centuria Capital Group has come out swinging in the new year by securing a massive office building acquisition in Geelong.

Centuria Property Funds Limited has exchanged contracts to buy the fully occupied A-grade office block at 60 Brougham Street for $115.25 million from the Liberman family-backed Impact Investment Group.

Centuria’s Jason Huljich, who will manage the umbrella under which the A-grade Brougham Street building is now under, said the acquisition is expected to attract major interest from investor thanks to its location and current tenancy.

Currently 100 per cent occupied, the building is home to Victorian State Government entity, the Transport Accident Commission.

Almost all of the tenancy is in it for the long haul, with long-term tenants taking up 94 per cent of the building. The state government currently holds a 10-year lease and a starting distribution of 7 per cent paid monthly.

“The building is centrally located in the thriving regional city of Geelong, which is benefiting from the relocation of a number of Government agencies, including WorkSafe and the National Disability Insurance Agency,” Mr Huljich said.

“The acquisition complements our investment philosophy and offers reliable, long term income for investors.”

The building joins an already impressive list of acquisitions in the first half 2018, with Centuria already flashing an FY18 report card of around $655 million of quality, investment grade property assets already acquired. On settlement, total Centuria assets under management will be $4.5 billion.

The property will be acquired by the Huljich-led Centuria Geelong Office Fund, a new single asset unlisted property fund which will be launched in February 2018.

OfficeGeelongDeal
ADVERTISEMENT
TOP STORIES
Exclusive

Freecity’s $300m PBSA to Prove Worth of Modular at Scale

Leon Della Bosca
7 Min
Exclusive

Billbergia’s John Kinsella: Whiskey, Fun and a Fear of Heights

Vanessa Croll
8 Min
Exclusive

Paperwork to Plate: The Rise of Brisbane’s Midtown

Taryn Paris
6 Min
Wel Co's Thornhill Park, 40km west of the Melbourne CBD.
Exclusive

Waiting for Victoria: Why Wel.Co says State Planning isn’t Working

Marisa Wikramanayake
6 Min
Woods Bagot Principal Alex Hall and Penny Place Adelaide
Exclusive

Amplified Affordability: Woods Bagot Cracks Housing Cost Code

Leon Della Bosca
8 Min
View All >
Surfers Paradise Jinding Revised DA hero
Development

Tide of Tower Tweaks to Stack Up Gold Coast Projects

Phil Bartsch
Exclusive

Freecity’s $300m PBSA to Prove Worth of Modular at Scale

Leon Della Bosca
Sponsored

Beyond Bricks and Mortar: Creating Connected Communities with Technology

Partner Content
How Australian proptech Generator drives engagement and efficiency across build-to-rent, land lease and retirement secto…
LATEST
Surfers Paradise Jinding Revised DA hero
Development

Tide of Tower Tweaks to Stack Up Gold Coast Projects

Phil Bartsch
4 Min
Exclusive

Freecity’s $300m PBSA to Prove Worth of Modular at Scale

Leon Della Bosca
7 Min
Technology

Beyond Bricks and Mortar: Creating Connected Communities with Technology

Partner Content
3 Min
Wesley Mission Uniting Church Affordable Housing Scheme Curtin ACT
Build-to-Rent

Wesley Mission Plots $46.5m ACT Housing Precinct

Leon Della Bosca
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/centuria-buys-tac-building-for-115m-from-impact-investment-group