Abacus Property Group – Sustainability Report 2017

20—21
Across our portfolio, various strategies are employed to attract and retain
tenants. This reflects our diversified portfolio and active management
of each property. We commit to taking advantage of our specialist
knowledge and market decisions to develop our assets. Some highlights
in our FY17 property portfolio include:
51 ALLARA STREET, CANBERRA
(Abacus share 100%)
– Refurbished this building to retain a
Commonwealth Government tenant. As a result,
this building is now 5 star NABERS rating.
– Facilitated the development and construction
of a 50 place childcare centre and exclusive
use by tenants.
32 WALKER STREET, NORTH SYDNEY
(Abacus share 25%)
– Maintained high occupancy by renewing
leases with existing tenants, allowing tenants
to expand or contract their space as business
demands changed.
– Developed open and flexible relationships
with tenants. For example, a tenant wanted to
stay in the building but did not need a whole
floor. We identified another tenant to take a
part of the floor, thus minimising costs for
both the tenant and landlord. We have also
allowed tenants to vacate early when their
circumstances change, provided a new tenant
is secured.
Book value:
$50 – $60m
Lettable area:
13,255 sqm
Book value:
$0 – $20m
Lettable area:
6,520 sqm
Cap rate:
7.75%
Site area:
3,973 sqm
Cap rate:
6.50%
Site area:
601 sqm
WALE:
4.0 years
Major tenant:
Department
of Environment
WALE:
2.6 years
Major tenant:
Toll Holdings, Kamrak
and Kelly Partners