8 Windmill Street, Walsh Bay
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, BG&E, Costin Roe Consulting, John Holland, St Hilliers and Pittwater Industrial.
The office comprises some 3819 sqm with basement parking for 32 cars. The foyer and ground level café have been recently upgraded and refurbished, providing a modern luxury entry to the building.
Purchased for $28 million in 2014, the investors have had a cash return of 8% per annum since acquisition. On refinancing earlier this year, the cash return increased to 9% per annum after a return of capital to investors.
Significant rental growth since acquisition has seen rents increase in excess of 25%.