Knight Frank and MMJ Canberra are pleased to jointly present 'The Manuka Portfolio', comprised of Manuka Court and the M-Centre. This is a rare opportunity to own one or two significant retail sites which offer attractive holding incomes, and are located within the prestigious Manuka retail precinct.
For sale by Expressions of Interest, Manuka Court and the M-Centre offer investors the opportunity to purchase separately, or in one line. Providing 52 separate tenancies across two assets that sit side-by-side, the Manuka portfolio provides incredible investment flexibility across a width bandwidth of capital interest.
This is an extremely rare retail opportunity, with limited multi-tenanted retail assets above $10m transacting in the ACT since 2013. No other significant Manuka retail asset has been sold via a public process in the past decade.
The key highlights of the opportunity include:
- High-profile coveted position in the Manuka Retail Precinct
- 2,753 sqm of combined site area, and 3,641 sqm of NLA
- Value-add Income opportunities through repositioning, redeveloping or reconfiguring.
- Manuka Court NOI: $565,286* per annum (when fully let) / M-Centre NOI: $1,009,022* per annum (when fully let)
- Manuka Court is currently 85% leased / M-Centre currently 95% leased
- Highly affluent catchment. Per capita income levels within the Main Trade Area are more than 80% in excess of the Australian Average
- Central Precinct in the 2603 postcode area. 2603 is the 11th wealthiest postcode in Australia and has the highest taxable income in the ACT
Manuka Court and the M-Centre will be sold by an Expressions of Interest Campaign closing 4pm 28 November 2023.
For further information, please contact the appointed agents, Nathan Dunn or Nick George.
*As at 30-September-2023
