8-12 Buller St, Port Macquarie

Sold in January 2017

Westlawn Property Trust has recently sold its Buller St Port Macquarie office complex. The property features 180 secured ground and basement car parks, and was purpose built as the Essential Energy Regional Headquarters. 8-12 Buller St Port Macquarie consists of work station and office accommodation for approximately 400 staff.

The 6,214m2  property sold for a net $18.1 million following an extensive Expression of Interest campaign conducted in late 2016.  The sale price compares favourably to the property’s book value at the time of $14.0 million.

 The Trust will look to recycle this capital into new acquisitions, and we expect to be able to make an announcement in this regard shortly.

Key Property Details

Purchase Date:
February 2001

Purchase Price:

$15,000,000

Sale Date:
January 2017

Sale Price:
$20,600,000

Percentage of Ownership:
100%

Structure of Ownership:
Direct

Principal Use:
Commercial Office

Capital Expenditure:

$200,000

8-12 Buller St, Port Macquarie

8-12 Buller Street, Port Macquarie, New South Wales, Australia