8 Nicholson Street, Melbourne

Overview

8 Nicholson Street is a freestanding A-Grade 18-storey office tower situated on the eastern edge of the Melbourne CBD. This is a highly visible gateway location with a commanding presence and modern contemporary design.

The area is a State/Federal Government precinct that adjoins the Victorian State Parliament, with access to a number of cultural amenities and the green spaces of Carlton, Parliament and Fitzroy Gardens.

8 Nicholson Street has three levels of basement parking and is well connected by several tram routes, and train services with Parliament Station a short walk away. The area is also very well serviced by a range of convenience retail and food outlets.

- Highly visible central Melbourne location

- Contemporary design

- Excellent transport links

Property Information

  • Building typeA Grade - office
  • Year built1991
  • TitleFreehold
  • Metro areaMelbourne CBD
  • ZoningBusiness 2 Zone 1 (B2Z)
  • Site area (hectares)0.3
  • Lettable area ('000sqm)23.5
  • Lettable area adjusted for ownership ('000sqm)23.6
  • Number of buildings1
  • Typical floor area (sqm)1,650
  • Car parking spaces91
  • OwnerDXS
  • Ownership (%)100
  • Major tenantState of Victoria
  • Acquisition dateNovember 1993
  • Book value at ownership ($m)244.0
  • Independent valuation dateJune 2022
  • Independent valuation at ownership ($m)244.0
  • Market cap rate (%)4.75
  • Initial yield (%)5.15
  • Leased by area (%)100
  • Weighted lease term by income (years)6.4

  • NABERS Energy rating (with Green Power)6.0
  • NABERS Energy rating (without Green Power)4.5
  • NABERS Indoor Environment4.5
  • NABERS Waste2.5
  • NABERS Water rating5.0
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