Codans SA headquarters to pique strong investment interest
Codan's SA headquarters to pique strong investment interest
| 15 November 2016
The home of ASX-listed Codan Limited’s South Australian headquarters in Mawson Lakes is being offered for sale.
CBRE’s Alistair Laycock and William Brown have been appointed to sell the campus style office building at 2 Second Avenue on behalf of Renewal SA and the South Australian Government.
Positioned on a 3.445ha site, the property comprises a recently refurbished office facility totalling 8,642sqm, including a mixture of open plan and partition office accommodation, as well as specialist technical, research and development areas.
The property is currently leased to Codan Limited - an ASX listed technology company that develops electronics solutions for global markets – for an annual rental of circa $2.45 million. The property is currently leased on a 15-year term until 2030, with an additional 10-year option available.
Mr Laycock said the opportunity to secure a significant facility occupied by an ASX-listed tenant would attract investor interest from both domestic and international groups.
“The property’s attractive lease covenant positions it as one of the most attractive investments in Adelaide this year, and will underpin strong buyer interest from private and institutional groups,” Mr Laycock said.
“The long term triple net lease and fixed 3% rental increases provide purchasers secure long term growth.”
The property is being offered for sale by expressions of interest closing 4.00pm Wednesday 23rd of November 2016.
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