222 Russell Street, Melbourne
The Russell Street property is one of four properties in Stockland Direct Office Trust No.3. Find out more
The property is a nine level car park built in 1997. Stockland Direct Office Trust No.3 holds a leasehold interest in 479 car parking spaces.
The property is located on Russell Street, east of the Melbourne General Post Office, within the north east core of the Melbourne CBD.
The majority of car parking spaces are leased to EziPark Pty Limited, the car park operator, until June 2010.
A leasing campaign has been undertaken for after June 2010. Offers from three different operators are being concidered.
| Location: | 222 Russell Street, Melbourne VIC |
|---|---|
| Acquisition Date: | June 2007 |
| Ownership/Title: | 100% / Leasehold |
| Independent Valuation: | 31 December 2009 |
| Valuation ($/m2): | $13.0 million |
| Capitalisation Rate: | 8.50% |
| Discount Rate: | 9.50% |
| Car Parking Spaces: | 479 |
Stockland Capital Partners Limited (ABN 86 078 081 722, AFS Licence No 241188) is the Responsible Entity of Stockland Direct Office Trust No.1 (ARSN 110 688 009), Stockland Direct Office Trust No.2 (ARSN 115 017 466), Stockland Direct Office Trust No.3 (ARSN 124 439 925) stapled to Stockland Holding Trust No.2 (ARSN 132 129 134), and Stockland Direct Retail Trust No.1 (ARSN 121 832 086) and the Fund Manager of Stockland Residential Estates Equity Fund No.1.