NewActon East, 21-23 Marcus Clarke Street, Canberra
21-23 Marcus Clarke St, Canberra, ACT, 2601, AU
7,380 m²
Description
JLL exclusively presents 255 London Circuit, Canberra, a 9,167 sqm A-grade office building combining strong AAA-rated Government leased income with near-term repositioning upside.
255 London Circuit sits at the gateway of Canberra's City East precinct. Built in 2007, it was the first Commonwealth occupied building to achieve a 5-star NABERS Energy rating. The current lease provides $13.4 million in contractual gross income until June 2028, offering stable cash flow and a defined window to execute a repositioning strategy in a precinct awash with strong occupier activity.
For Sale by Expressions of Interest closing Friday, 25 September 2026 at 12pm (AEST)
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Attributes
Building area net
9,167 m²
NOI
NT$143,936,000
Occupancy
100%
Year built
2007
Land area net
2,945 m²
WAULT
1.75 years
NABERS
5 Star
Call for offers
09/24/2026
Media
Investment Highlights
- Secure Income: Passing net income of $6.3m p.a. from AAA-rated Commonwealth tenant, with $13.4 million* contractual gross income remaining before lease expiry
- Modern, A-Grade Asset: Built in 2007, the asset delivers proven operational performance with 5 Star NABERS Energy and Water ratings, efficient floor-to-ceiling glass, excellent natural light and 134 secure car spaces at market-leading 1:68 sqm ratio
- Configured for flexibility: Typical 1,500sqm floorplates with interconnecting stairs providing flexibility to accommodate single-floor occupiers or efficient multi-tenancy configurations, capitalising on City East's growing demand from smaller corporate tenants and government occupiers
- Outperforming precinct: Positioned in Canberra's transforming City East submarket with major private-sector occupier inflow from City West. Located 400m from Canberra Centre within a precinct that is seeing significant infrastructure investment
- Capturing the flight to value: Opportunity to acquire the asset at a significant discount to replacement cost with new builds forecast at up to $11,500/sqm. Reposition to capture tenant demand at competitive rentals, well inside $800+/sqm economic rents for new developments
- While others renovate you reposition: Surrounded by 1980s Commonwealth stock, 255 London's 9,167sqm modern specification demands less repositioning capital while commanding higher rents and a stronger tenant pool
Contact brokers
255 London Circuit, Canberra (0 Properties)
