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Sold on 16 Feb 2021

216-228 Cowlishaw Street Greenway ACT 2900

  • Shop & Retail
  • 1,897 m²
  • Sold

Childcare Anchored Asset 10 Year WALE, 7% Yield

  • 10.02 WALE (Years by Income)
  • 1,897sqm NLA
  • Net Passing Income: $694,805 pa + GST

Flax House is a prominent, free-standing commercial property providing 1,897sqm of NLA across two levels in the heart of the growing Tuggeranong Town Centre supporting over 88,000 residents. The majority of the building is occupied by a childcare centre with this income well supported by medical, office and café tenants.

The property is prominently situated on Cowlishaw Street, within the Tuggeranong Town Square which is within walking distance to a large federal government workforce Services Australia, the Southpoint Shopping Centre, Anketell Street, public transport and the Lake Tuggeranong foreshore. The importance of the location is evident in the ACT Governments recent investment of $7 million to upgrade the landscaping and streetscape on Flax Houses doorstep.

The property is presented with a WALE of 10.02 years by income, and recent capital expenditure creates an attractive investment proposition for investors seeking true diversification in their portfolio.

Freestanding childcare & medical anchored investment of 1,897sqm NLA
Site Area: 1,717sqm in the heart of Tuggeranong Town Centre
Over 97% leased with a 10.02 year WALE (by income)
Major refurbishment completed in 2019, creating easy to manage investment
90% of income has fixed annual increases of 3% or higher ensuring growth
Net passing income: $694,805 pa + GST

For sale by expression of interest, closing 4pm AEDT Tuesday 10 November 2020.

Mitch Frail
JLL - Canberra
Mitch Frail
JLL - Canberra
Tim Mutton
JLL - Canberra
Tim Mutton
JLL - Canberra

Property Highlights

Property ID2016546857
Date Sold16 Feb 2021
Floor Area1,897 m²
Land Area1,717 m²
ParkingOn site parking available
Building TypeWhole building
Category
Last updated  5 Mar 2021
Map for 216-228 Cowlishaw Street Greenway ACT 2900
Map for 216-228 Cowlishaw Street Greenway ACT 2900216-228 Cowlishaw Street Greenway ACT 2900
Mitch Frail
JLL - Canberra
Mitch Frail
JLL - Canberra
Tim Mutton
JLL - Canberra
Tim Mutton
JLL - Canberra

Property Highlights

Property ID2016546857
Date Sold16 Feb 2021
Floor Area1,897 m²
Land Area1,717 m²
ParkingOn site parking available
Building TypeWhole building
Category
Last updated  5 Mar 2021
JLL - Canberra
Level 7, 121 Marcus Clarke St Canberra ACT 2600
Mitch Frail
JLL - Canberra
Mitch Frail
JLL - Canberra
Tim Mutton
JLL - Canberra
Tim Mutton
JLL - Canberra
Mitch Frail

Mitch Frail

JLL - Canberra

Tim Mutton

Tim Mutton

JLL - Canberra

+61 *** ***
+61 61429103979

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