Castlerock has acquired Mackay’s top commercial office building that is poised to deliver strong, secure returns for many years to come thanks to a long-term lease to the Queensland Government. The asset was purchased in the Auslink Property Trust No.2 fund.
The landmark building at 44 Nelson Street serves as a regional headquarters for the State Government and offers 7,000 square metres of A-grade quality accommodation over six levels and a café at ground floor level.
It is leased to the State Government until 2025 and comprises ground floor entry and retail accommodation as well as five levels of upper office accommodation. It also features a detached podium car park structure.
With a 5.5 Green Star Rating, the building brings together a diverse range of key departments including the Department of Communities, Child Safety and Disability Services, Department of Transport and Main Roads and Department of Education.
Located in one of the most exciting economic development regions in Asia Pacific, as well as within a key regional centre in North Queensland, the property is anticipated to deliver strong returns for a long period of time.