Castlerock Property has commenced construction on a new purpose-built government-leased development at 72 Wotton Street, Aitkenvale in Townsville, Queensland.
A Purpose-Built Australian Government-Leased Facility
Castlerock Property has commenced construction on a new 1,486sqm Australian Government-leased development at 72 Wotton Street, Aitkenvale in Townsville, Queensland.
The facility has been specifically designed to support the operational requirements of an Australian Government agency and will accommodate a government customer service centre upon completion.
Castlerock secured the deal through the Commonwealth Government’s two-stage procurement process, comprising an Expression of Interest and Request for Proposal process.
The project further strengthens Castlerock’s exposure to Australian Government-backed tenancy while continuing growth across North Queensland.
“This development represents another important milestone for Castlerock and our continued focus on delivering purpose-built assets that support essential government services and long-term community outcomes.
We're pleased to see construction now underway and look forward to delivering a high-quality facility tailored to the operational requirements of our Australian Government tenant in Aitkenvale."
Harriett Sestak
Positioned in the Heart of Aitkenvale
Located within the Aitkenvale town centre, the site is positioned close to an existing Australian Government customer service location, supporting continuity of service for the local community.
The site is within walking distance to Stockland Townsville Shopping Centre and benefits from strong surrounding public transport connectivity.
The development has been purpose-built and operationally tailored to support future requirements of its Australian Government tenant while maintaining accessibility for the local community.
Sustainability-Focused Design
The development incorporates several sustainability initiatives and is targeting:
- 5.5 Star NABERS Energy
- Carbon Neutral (Base Building) certification
- 99kW solar array
- Five EV charging stations
The project reflects Castlerock’s continued focus on delivering high-quality, future-focused government-leased assets with strong sustainability outcomes.
Strengthening Long-Term Government Income
Upon completion, the facility will operate under an initial seven-year lease term with two further three-year extension options.
The project is expected to deliver an initial distribution rate of 8.75% while further strengthening Castlerock’s depth across North Queensland.
At a portfolio level, including the recently announced Workzone East acquisition in Perth, the Fund’s weighted average lease expiry (WALE) sits at 5.3 years.
Construction Underway
Construction is currently underway with practical completion on track for December 2026.
This development continues Castlerock’s focus on delivering purpose-built government-leased assets designed to support long-term tenant requirements and stable income outcomes.
For Further Information, speak with our team: info@castlerockproperty.com.au
