Gross Asset Value

$100M

(50% stake)

Target Income Yield

7%

(average 5 year forecast FY21-FY26)

Target Internal Rate of Return

10%+

(excluding development return)

ICAM acquired a 50% freehold interest in 91 King William, 89 King William and 16 Anster Street in November 2016 from its now co-owners, Abacus Property Group.

91 King William (91 KW) has long been considered the trophy asset in Adelaide, holding a prestigious position in the heart of the Adelaide CBD. The 31-storey tower is among the tallest and most recognisable buildings on the city’s skyline and enjoys 360-degree views of the CBD, the coastline and the Adelaide hills.

Currently occupied by blue-chip tenants such as the Commonwealth of Australia, Knight Frank Australia, TeamViewer, Crestone, Chartered Accountants Australia and New Zealand, HWL Ebsworth and more.

Investment highlights

  • Premier King William Street address with three street frontages
  • 31,600 sqm of lettable area (including Perpetual House and Delmont House)
  • 53 parking spaces
  • 4.5 Star NABERS energy rating
  • Easy access to transport and retail precinct
  • A history of exceptional tenant retention