19 George Street, Dandenong

95.5%

Occupancy1

$124m

Valuation1

Office

Sector

19 George Street is a seven-level, A-grade office building located in the outer Melbourne suburb of Dandenong, which reached practical completion in October 2015. The building is the sole asset in the Cromwell Property Trust 12.

The building offers a net lettable area of 13,803 sqm and is centrally positioned on a 3,145 sqm site. Floor plates range between 2,058 and 2,794 sqm, suitable for a combination of open plan, perimeter office and internal office workspaces.

Office space spans six levels with an additional 1,202 sqm of retail and office space over the ground and lower ground levels. It includes 50 car parks for the key government tenant, in addition to storage space and end-of-trip facilities.

Dandenong was originally a separate city but was absorbed into Melbourne’s metropolitan area during the urban sprawl of the 1960s. Dandenong maintains its own identity and character as a major commercial and industrial area. The new precinct in which the building is located continues to receive recognition, recently winning a national architectural award for reclaiming the town’s traditional high street from traffic, and turning it into a destination for pedestrians, cyclists, and shoppers.

The precinct is part of the Revitalising Central Dandenong Scheme, in which the Victorian State Government has invested $290 million, and the City Council a further $100 million.

Upon completion the building achieved a 6-Star Green Star Office Design & As Built v3 rating. Under the rating tool, 6 Stars signifies ‘World Leadership’ in environmentally sustainable design and construction, responding to the Government tenant’s requirement for a purpose built, long-term flexible working environment.

19 George Street is the sole asset in the Cromwell Property Trust 12, which is presently closed to new investment. The only way to gain exposure to 19 George Street is via an investment in the Cromwell Direct Property Fund (Fund), which holds a 17.3% ownership stake in the Cromwell Property Trust 12. To learn more about 19 George Street or for further information on the Fund, click here, call Cromwell’s Investor Services Team on 1300 268 078 or email invest@cromwell.com.au.

1 As at 30 September 2021