8 Windmill Street is strategically located overlooking Sydney Harbour with direct views to the Harbour Bridge.
The modern 7 level office building designed by Peddle, Thorp & Walker was constructed in 2003.
The property is immediately adjacent to the significant Barangaroo precinct, which is being undertaken by the NSW Government and Lend Lease.
The building is fully leased to a range of quality tenants including Starcom Media, BG&E, Costin Roe Consulting, St Hilliers and CFMC Management.
The office comprises some 3,819 sqm with basement parking for 32 cars.
Since acquiring the property, we have negotiated an extended all the leases to increase the WALE and achieve much higher rents. We have also reconfigured the tenancy mix and introduced new tenants to the property. The cafe and foyer on level 3 have been totally upgraded and refurbished to provide a much improved entry to the building.
Purchased for $28 million in 2014, the property was refinanced in 2017 enabling us to return 25% of the equity contributed ($250 per unit) back to investors and increase the cash return on funds invested to 9%.