Commercial building with five tenants in Phillip hits market amid Woden growth
Anyone considering an address for a trade-focused business in the ACT would find a lot to like about the Woden Valley. It’s centrally located and well served, with easy access from all directions.
Tightening the focus even more, the Phillip “service trades area” is just across Hindmarsh Drive from the thriving Woden Town Centre, which continues to bustle with development, including the newly opened permanent bus interchange and a range of residential apartments.
With those key boxes ticked, any offering that comes to market is likely to get a serious look from investors, too.
That brings us to this 1410-square-metre, two-storey building on popular Townshend Street, packed with five long-term tenants. When fully leased, it could deliver $238,000 plus GST net per annum.
The meticulously maintained building sits on a 1239-square-metre site and can accommodate a broad range of permitted uses. These include office, medical, vet, public agency, wholesale, restaurant, and takeaway food.
Andrew Smith of Civium Commercial says buildings on Townshend Street rarely come to market.
“This building has been in the same family since it was built more than 40 years ago,” he says. “The Phillip service trades area is gentrifying and experiencing low vacancy rates.”
Smith says rents have been increasing, especially for ground-floor tenancies on Townshend Street.
