Cushman & Wakefield are pleased to present for sale West Block, 21 Queen Victoria Terrace, Parkes – a revitalised icon in Canberra’s prestigious Parliamentary Precinct.
Key Investment Highlights:
- Secure, Long-term Investment – Leased to the AAA-rated Commonwealth Government for 11.0 years* (from October 2024), providing stable, low-risk income with minimal capital expenditure requirements.
- 100% Commonwealth-Leased – Unique opportunity to secure a Parliamentary tenanted asset, a fully leased to the Department of Parliamentary Services providing a commencing net income of $4.34 million* per annum.
- Prime Parliamentary Location – Positioned on a 1.7-hectare* island site within the Parliamentary Precinct, just 400m* from Parliament House, offering unparalleled proximity to Australia’s political and administrative core.
- Fully refurbished asset of national significance – Over $45 million* invested in refurbishing this iconic Art Deco building that was once the Prime Minister office, including upgraded mechanical and electrical systems, premium end-of-trip facilities, targeting 5-star NABERS rating.
- Development Potential – Development approval for a 690* sqm free-standing pavilion, allowing tenant expansion, with further potential for additional structures.
A 100% interest in West Block, 21 Queen Victoria Terrace, Parkes is available through Expressions of Interest, closing Thursday 14 November 2024 at 12pm (AEDT).
Cushman & Wakefield
Daniel Wolman | 0412 957 839
Oliver Hay | 0419 528 540
*approximately
In conjunction with Colliers
- City & Inner South Canberra
