Front and centre: Unmissable main street commercial investment in Queanbeyan
Back in 1926, Monaro Street in Queanbeyan was still in the early stages of its identity as Queanbeyan’s main street. Fast-forward to today, and that reputation is well established and being recognised with a $17 million, six-month refresh project now underway.
Along the strip are many commercial buildings that have stood the test of time, such as this one at 45-47 Monaro Street, which began life as Black’s Chambers 100 years ago.
It’s now come onto the market for the first time in decades and offers a rare opportunity to buy an excellent commercial property with five secure tenancies.
There are three with shopfronts onto Monaro Street and an upper-level tenancy with a double-storey extension to the rear that was added in the 1970s. The overall block size is just over 1100 square metres, including a rear side laneway. A free public car park sits nearby.
The tenancies range in size from 30 to 1850 square metres, and together they deliver an estimated net annual income of $309,647, including GST.
Peter Stumbles of LJ Hooker Queanbeyan says assets in Monaro Street tend to be very tightly held.
“This property has long-standing tenants, with one recently signing a new 3×3 lease,” he says. “The building presents as a fantastic investment with a strong net yield and is a GST-exempt sale as a going concern.”
