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OFFICE

LOCOMOTIVE WORKSHOP

Locomotive St, Eveleigh, NSW 2015

Completed in 2021 and located in Sydney's CBD Fringe, the Locomotive Workshop provides 31,000 square metres of A grade space over 15 bays, with anchor tenants Quantium Group and OMG. The adaptive re-use and redevelopment of the 1880's-built heritage listed Locomotive Workshop includes a combination of bespoke retail, and modern infill office with innovative heritage design and interpretation. The Locomotive Workshop is of high heritage significance and as such the redevelopment preserved and celebrated the building fabric, its collections and blacksmith activity to create an industry leading example of adaptive reuse and heritage interpretation.

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Grade
A
Nabers Rating
-
Ownership
51% Mirvac, 49% Australian Retirement Trust
NLA
31,438 SQM

Summary information

Acquisition/Agreement Date Apr-16
Last External Valuation Date Dec-23
Valuation at 31-DEC-23 $206.3m
Valuer Savills
Capitalisation Rate 5.25%
Discount Rate 6.50%
Gross Office Rent $918/sqm
1. Book value represents Mirvac's ownership.

Lease Expiry Profile % Income

Wale: 7.5 YEARS

Major Tenants

Entity Name NLA / GLA SQM Lease Expiry
Quantium Group 12,369 Oct-31
Entity Name NLA / GLA SQM Lease Expiry
OMG 4,122 Jun-32
Locomotive exterior side view day

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Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.  

Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.