5 First Street, Katherine NT
This Property comprises an 8,110 sqm regular-shaped allotment with a two-level office building, with a total lettable area of 4,492 sqm. Car parking is provided for 79 vehicles (including 15 under cover). The building is 25 years old and was renovated in 2010, with an air conditioning upgrade in 2012. The Property is fully leased.
The tenant is the Northern Territory of Australia and negotiations are underway for a new 15 year lease. The agreement for such a new lease is expected to include a commitment by the
Fund to undertake certain capital expenditure. However, no binding agreement for this new lease has been entered into as at the date of this Information Memorandum. If a binding lease
agreement is entered into this may lead to an uplift in the value of the Property. However, this agreement may not be entered into by any particular date or at all, in which case the value of
the Property would not reflect any uplift and may fall. Any updated information regarding this matter will be advised via this website