This high-profile and iconic building in Canberra is for sale by Expressions of Interest and presents an outstanding investment in an unprecedented core CBD location.
Fronting Bunda Street and the popular Garema Place retail strip, 50 Bunda Street is a fully-leased asset with a diverse mix of income derived through rental, signage and storage agreements. The property accommodates numerous retail, restaurant and commercial operators and features a number of long-standing Canberra businesses who have successfully operated from the building for 10+ years.
The WALE of approximately 4.25 years (by income) affords prospective purchasers the opportunity to add-value to the asset through renewal of impending lease expiries, or alternatively explore a long-term re-development upside given the premium location. The CZ1: Core Zoning and Crown Lease provides further inherent development rights, with no restrictions on the building GFA*.
The Canberra CBD is home to several major Commonwealth Departments and a significant volume of commercial and retail operators. The 49,000m² Australian Tax Office headquarters and Canberra’s largest retail Centre, the 123,000m² Canberra Centre, are directly opposite 50 Bunda Street, making it an outstanding passive investment and long-term re-development opportunity with an unrivalled CBD position.
*subject to planning approval
NABERS Energy Rating N/A
