Acure Asset Management provides in-house research, analysis and news bulletins to subscribers on a monthly basis.
Our reports are based on Australian Property and Market trends as they happen – as well as reflective reports on our portfolio and performance.
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Acure’s office property at Emerald Lakes on the Gold Coast has just been revalued at a 23.25% uplift in valuation from the purchase price in July 2022.
The valuation assessed market rents at $400-435/sqm, averaging $424/sqm, and a cap rate of 8.25% (same as the Varsity One valuation).
This demonstrates that the passing rent at Varsity One ($430/sqm)is at market and the passing yield of 9.0% is not inflated.
The Emerald Lakes Trust by Acure Asset Management owns a metropolitan office property at 3027 The Boulevard, Carrara (Gold Coast) in Queensland.
Constructed in 2008, the Property is an A-grade quality commercial office building comprising 4 levels of high-quality office accommodation and ground floor retail and commercial tenancies.
It has 4,829sqm NLA of modern office space over 5 levels. The Property is multi-tenanted delivering secure & diversified income stream with income growth. The structure itself is well maintained building with a 4.0-star NABERS energy rating.
(Down) The Road to Varsity One
Varsity One provides the opportunity to secure a well leased office asset in one of the country’s best performing office markets, experiencing surging demand as population expands coupled with constraints on new supply.
An A-grade quality 5 level commercial office building with large 1600-1800 sqm floor plates, offering high quality office accommodation and ground floor retail tenancies as well as abundant parking.
The Property is strategically situated within a pivotal corporate office complex on the Gold Coast benefitting from favourable connectivity to Varsity Lakes, Robina, Southport and the M1 Motorway.
- 6,066 spm NLA
- 100% leased with diverse tenancy profile
- 3.1 year WALE
- Purchased well on a 9.0% ungeared yield and $5,300/sqm, providing a solid base as an investment
- The Gold Coast has strong investment fundamentals and very low office vacancy, which lends itself to a robust outlook
- Single-asset trust with a 5-7 year investment term
Project Investment Returns
- Distributions paid monthly, commencing at 8.25% p.a. and projected to average 8.75% p.a. (5 years).
- Total return (IRR) target to investor of 12.0% p.a. (after fees)