PROPERTIES
Williamtown Aerospace Centre (WAC)
1 and 2 Technology Place, Williamtown NSW
Property Overview and Strategy
Williamtown Aerospace Centre (WAC) is prominently located at the entrance of Newcastle Airport. It is 1.8km from Australia’s largest operating RAAF Base, 27km north of Newcastle, and 180km north of the Sydney CBD.
The WAC precinct is a campus-style office and light industrial development of six free-standing buildings, with on-site parking for 470 cars.
The property was developed over a period of six years, with the first building being constructed in 2014 and the most recent in 2020.
All buildings have been designed and built to ‘Defence Zone’ level security requirements. Three of the six buildings have 5-star green ratings.
The property is fully leased to 15 tenants, most of which are associated with the Defence industry. Overall, they provide strong lease covenants, with over 50% underpinned by publicly listed companies such as Boeing, Lockheed Martin and Raytheon.
There is an opportunity to subdivide and sell the buildings individually or re-develop if adjoining land can be acquired.
Property Details
Location
Williamtown, NSW
Asset Type
Office Park
Lettable Area (m2)
7,557
Occupancy by Income (%)
100.0%
Weighted Average Lease Expiry by Income (Years)
3.1
Year Constructed
2014
Last Refurbishment
2017
Major Tenant/s
Boeing