OwnerGDI Property Trust, part of the listed GDI Property Group
Independent valuation date31 December 2018
Independent valuation$33.5 million
Rate/sqm of NLA$5,038
Capitalisation rate7.75%
Discount rate7.50%
NLA Total (sqm)6,649
Typical floor plate (sqm)1,900
Car parking44
Occupancy (by NLA)0%
NABERS Energy ratingTarget 4 stars

Property Overview

1 Mill Street was the most recent of the three buildings within the Mill Green Complex to be constructed, with development reaching completion in 1986, with an extensive refurbishment completed in 2013. The building provides office accommodation over four levels plus basement parking.

The main entrance lobby has primary access directly to the Mill Street Plaza area, which is a large forecourt linking all three buildings. Secondary access is also provided at the lower office level which leads directly to the corner of Mill Street and Mounts Bay Road. The main lobby features a full height four level atrium and provides access to the single lift riser as well as ground floor offices.

The accommodation within the premises does not enjoy any notable vista. However, the three main office levels have an average floor plate size of approximately 1,900 sqm which is considered a commodity in the Perth CBD. The building features a central service core incorporating central light well / atrium, lifts, toilet and kitchen facilities. Natural light to the southern, northern and eastern elevations is good whilst the western elevation is assisted by the presence of a full building height light well. Typical office floors are generally carpeted throughout and have suspended t-grid ceilings with lighting provided by modern fluorescent lighting. The fitout presents a very high standard commensurate with A grade office accommodation.