Raine & Horne Commercial Canberra and Sentia Real Estate are extremely excited to exclusively present 45 East Row, in the heart of the retail core of Canberra CBD, for sale.
The Sydney and Melbourne Buildings form the gateway to the Canberra City precinct. Their stretching collonades are lined with quality restaurants, retail shops and bars. These highly prominent and recognisable buildings are rich in history and heritage value. The historic Sydney and Melbourne buildings have a special place in the hearts of Canberrans. Built in the early stages of Canberra's formation, the buildings sit right in the heart of the city centre on either side of the main approach road into the national capital.
Due to the importance these buildings hold in the physical and social history of Canberra, in addition to preparing for the construction of the Stage Two Light Rail (City to Woden), the ACT Government are currently upgrading and extending the verges and internal laneways of the Sydney and Melbourne Buildings, providing additional space for retailers, cyclists and pedestrians. Key elements of the project include reclaiming of a section of road verge, removal of stepped thresholds at the building colonnades, upgrade of stormwater infrastructure, construction of vaulted tree pits, planting of mature street trees, high end granite paving, architectural street furnishings, raised cycle lanes, LED feature lighting and traffic signal upgrades.
45 East Row is a conventionally designed, separately titled, two-storey heritage listed commercial building. The building stands on a regular-shaped 200sqm block and is positioned within the main retail core of Canberra CBD with prominent frontage to the Canberra City bus interchange.
The ground floor measures approx. 160sqm and is currently vacant, providing an extremely rare opportunity for an owner occupier to trade from this outstanding location with a high degree of daily foot traffic. The full height glazing to the front of the unit provides for plenty of natural light through the space. The property comprises an open plan retail area comprising a light and airy open plan area with grid ceiling, strip lighting, concrete walls and floor, a store room under the stairs, two restrooms with hand basin plus a rear storage area with double doors accessing the rear laneway, Verity Lane.
The upper floor measures approx. 167sqm and is currently leased to Squeaky Clean Bar & Restaurant on a 5+5 year NET lease commencing 1st March 2023 at $60,000pa +GST with CPI annual increases. The premises is accessed via a stairwell directly from East Row and is fitted-out with hardwood timber flooring and multiple bathrooms. The tenant is an established Canberra hospitality operator who has been working, consulting and managing bars for over 25 years. Their fitout has been designed by renowned hospitality design experts, M Studio, based out of Sydney, who have meticulously designed Level 1 with thought for efficient food and beverage preparation, while providing patrons with the best dining experience while also enhancing the venue's brand identity.
For further information or to arrange a private inspection, please contact Mark Nicholls of Raine&Horne Commercial Canberra on 0417 239 551, Chris Antos of Sentia Real Estate on 0422 837 647.
