Overall construction is of concrete block and steel beam, with a distinctive angled glass veranda. The seismic rating equals 70 per cent of the New Building Standard.
The five tenancies, which generate combined annual income of $256,215 plus GST are:
1. Property accountancy firm Coombe Smith, on a six-year lease expiring in 2021 with two further six-year rights of renewal.
2. Money-lender Instant Finance, on a lease expiring in 2019 with two further three-year rights of renewal (one already requested).
3. Gulmohar Indian Restaurant, on a lease expiring in 2022 with four further three-year rights of renewal.
4. Artificial intelligence technology firm Face Me, on a lease expiring in 2019 with two further three-year rights of renewal.
5. Website development company Digital Stream, on a sub-lease expiring in 2019 with two further three-year rights of renewal.
Gulmohar restaurant and Instant Finance benefit from substantial ground-level, foot-traffic exposure; while commercial office spaces above operate in modern open-plan work environmentshaving excellent natural lighting.
"All these tenancies interact with the public, so having abundant metered parking just outside the front door is a huge advantage," Metcalfe says.
"From a marketing and branding perspective, there is much potential to add value. Naming-rights signage would work well on the southern and northern perimeters and top floor, immediately above the main entrance stairwell."
"All portions of the upper-level office space were refurbished to a high standard in 2016 and now provide an open-plan working environment for the tenants, with access to the car park via a rear stairwell," Bruce says, "The tenancies are also served by commercial-grade air conditioning units."
