The Equity Investment Strategy aims to increase our asset base to a size which will give leverage when establishing major enterprises and contribute to the economic sustainability of Yarnteen.
Scarborough House (Canberra)
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Scarborough House, located in Woden, ACT, is a 15 storey office complex which IBA purchased from the Australian Commonwealth Government in 2001.
Along with IBA, there are currently 4 Aboriginal partners. They are Yarnteen Aboriginal and Torres Strait Islanders Corporation, Gundjehmi Aboriginal Corporation, Wunan Foundation Inc and Groote Eylandt & Bickerton Island Enterprises Aboriginal Corporation.
During 2004 and 2005 Scarborough House was refurbished in a major project that involved a total reconstruction, including the façade and an increase in the floor plates on the northern and western aspects. |
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The reconstruction increased the net lettable area from 11,000m2 to 16,777m2. The building now contains A-grade office accommodation with a SEDA 4-star energy rating. Approximately 98% of the building is leased to an Australian Government tenant and the remaining 2% on the ground floor leased as a café.