PROPERTY DESCRIPTION

The Brougham Street property overlooks the foreshore of Geelong, Victoria. It is a government office building of six levels with basement car parking, and was purchased by the Government Property Trust in 2005. It is primarily leased to the Commonwealth Government for 4 years from July 2007 with a further 3 year option.

The Corio Street property is leased to the Greater Geelong City Connect to 30 June 2011 with 2 x 3 year options.

The "ATO Geelong" building comprises a modern commercial building incorporating five levels of office accommodation together with secured basement carparking. At the rear of the main building is a modern three level office building incorporating secured basement carparking leased to the City of Greater Geelong. In addition, there is further development land of approximately 2,600 square metres to the western perimeter of the site, currently with ground floor carparking.

The property was developed in the late 1980s, costing approximately $25,000,000 and has been well maintained having regard to its age and present use.