39/1 Cowlishaw Street Greenway ACT 2900

Raine & Horne Commercial Canberra are proud to present Unit 39 'Emphora' for sale by Expression of Interest (EOI).

'Emphora' is a modern mixed-use development located on the fringe of the busy Town Centre of Tuggeranong. Built by one of Canberra's reputable building companies Narona Homes, the development comprises 37 residential apartments and 4 commercial tenancies on the ground floor.

Located only a short walk to South.Point Shopping Centre and situated opposite the Louisa Lawson Building (home to the Department of Human Services and Services Australia), Emphora is positioned in a central position in close proximity to a number of major town centre amenities including cafes, restaurants, car parks, community services and public transport.

Unit 39 is a 96sqm, regular shaped, ground floor unit fronting Cowlishaw Street with 3 on-title undercover car parks to the rear. The unit benefits from plenty of natural light and a back door accessing the car parks to the rear. The unit comprises ducted air-conditioning, grid ceiling, vinyl floor covering, a large bathroom & kitchen. The fit-out is currently open plan in design, however the incoming tenant is planning to build internal partitions to accommodate their operating requirements.

The unit has recently been leased on the following terms:

• Tenant: ACT Leisure Program Pty Ltd
• Lease Commencement: 1 December 2022
• Lease Term: 5+5 years
• Commencing Annual Rent: $45,000pa + GST
• Rent Review Structure: Increases by 4% annually, reviewed to market at option, increasing by 4% from option commencement date
• Outgoings: Tenant pays statutory outgoings, services & utilities, cleaning & waste removal
• Security: Cash bond equal to three months' rent

Unit 39 'Emphora' provides an excellent opportunity for an incoming investor to receive a NET income of $45,000pa increasing annually by 4%.

The property is for sale by Expression of Interest closing Thursday 8th December 2022.

For further information or to arrange an inspection, please contact the exclusive agent, Mark Nicholls of Raine & Horne Commercial Canberra.