Canberra City investment property with two restaurant tenants for sale
A Canberra CBD investment option offering two secure, long-term leases in a property of about 500 square metres should be worth a close look, particularly when its two hospitality tenants are positioned on City Walk, one of the area’s busiest dining and entertainment precincts.
The popular Manila in Canberra and Lilong by Taste of Shanghai restaurants are still early into leases that extend into the mid-2030s and beyond, with further five-year options in the mix.
Manila in Canberra occupies 179 square metres on a 10-year lease until 2035, while Lilong takes up a large 326 square metres on a 13-year term until 2037.
Together they deliver annual net income of more than $310,000 plus GST, with 3.5 per cent annual rent increases ensuring future growth.
Guy Randell of Yield Commercial says the long lease terms demonstrate a high level of tenant confidence.
“It shows how they value this city location, and that belief is also reflected in their significant fitout investments,” he says. “These are strong assets for long-term holds.”
The property forms part of the well-established Highgate and Park Avenue mixed-use developments, which host nearly 400 apartments and offer further exposure to a daily commuting city workforce and shoppers.
Neighbours include a mix of hospitality, retail and service businesses, while the property is close to the bustling Canberra Centre.
