Investa Commercial Property Fund (ICPF) has agreed to acquire a 100-percent interest in 220 London Circuit in Canberra, Australia.
Adjacent to the Australian Capital Territory’s (ACT) Legislative Assembly in the Canberra CBD, the new, 22,300-square-meter (240,035-square-foot) office building forms part of Constitution Place, a two-building, mixed-use complex completed in 2021. ICPF has acquired the five-level building. It is predominantly leased to the ACT Government until 2041.
“220 London Circuit is a prime asset in this highly desirable location. The acquisition delivers on ICPF’s strategy of owning prime assets with leading ESG credentials in core locations, delivering solid rental growth,” said Brendan Looby, ICPF fund manager. “The AAA rating of the major tenant, the ACT Government, enhances the quality of underlying earnings and improves portfolio occupancy, WALE and diversification, while complementing the fund’s active development pipeline.”
