12/189 Flemington Road Mitchell ACT 2911

Burgess Rawson are delighted to exclusively offer For Sale by Auction this rare investment opportunity leased to long term tenant Aquarius Carwash.

Mitchell is connected to Gungahlin by two major arterial roads, the Gungahlin Drive extension and Flemington Road. These roads service high traffic flow as they are the main access points for Gungahlin to the south of Canberra and the City. Flemington Road also features the new light rail, which connects Gungahlin to the CBD in 6 minutes during peak hour traffic. Mitchell features national and local tenants, including Sydney tools, Subway, Club Lime, 99 Bikes, Kennards hire, Australia Post, Hertz, and others.

This property is located on a prominent corner just off the new light rail corridor and major thoroughfare to the CBD, with easy access to the Barton and Federal Highways.
Car washing is a high demand industry, worth $24 billion according to the International Car Wash Association.

Aquarius Carwash have a long term trading history in this location with the tenant extended for a further 10 years, 2 years prior to ending tenure. This location is a sought of land position as industrial land is secure and tightly held in Canberra with minimal ever coming on the market. A fantastic Stamp Duty Free investment which further enhances your net return.

Highlights:

+ 17 year lease to 2034 plus option to 2039
+ Attractive 3% annual increases
+ Fully leased to Aquarius Car Wash with a 13 year business history.
+ Easily managed single tenant investment
+ Prominently located car wash investment

Lease Term: 17 years lease
Lease Commencement: 01/06/2017
Lease Expiry: 31/05/2034
Increases: 3% Rent Reviews per annum
Option:1 x 5 Year Option

Net Income: $65,516 pa + GST