1 Central Avenue, Eveleigh
TRANSACTION SUMMARY
This life science asset, known as the Biomed Building, was originally acquired in April 2016 for $40 million as part of a three-asset portfolio for the unlisted Centuria ATP Fund.
The life science asset was brokered off market through Rebus Property at a record price of $103 million which reflects a yield of 6.5%.
1 Central Avenue’s sale reflects a 150% capital appreciation throughout Centuria’s eight-year ownership period. The asset was sold at book value.
PROPERTY DETAILS
Building type: Life Science
Building area: 7,705 sqm
Land area: 2,727 sqm
PROPERTY FEATURES
Rare life sciences tenants
Situated in the South Eveleigh precinct
PURCHASE DETAILS
Purchase price: $103 million
Date: July 2024
Net passing yield: 6.5%
TENANCY DETAILS
WALE:
NLA: $7,716/sqm
Tenancies: Multiple life science tenants
