An A-grade, eight-storey office building in Canberra has been sold for $44 million.
The sale of 11 Moore Street, Civic was arranged by Nic Purdue of Knight Frank - Canberra and Andrew Balzanelli of JLL – Canberra. The vendor was Willemsen Investment Corporation Pty Ltd, a private development company owned by Anthony and Gerard Willemsen, which was started over forty years ago by well-known architect, Gary Willemsen.
According to Canberra Cityscope 11 Moore Street, Civic, is an A-grade, eight-storey office building with four basement car parking levels and two ground level retail shops. The building has an area of 13,000 sqm, sits on a 1,450 sqm site and has a NABERS rating of 4.5 stars. It is 100% leased to the ACT Government.
The site last traded at $4.5 million in 2003 after having lain vacant at excavation stage for eight years. The current building was then completed by 2004 by Bovis Lend Lease to a Willemsen design.