72-74 Townshend Street, Phillip presents an outstanding opportunity to purchase a high-profile, freestanding office / retail building in the growing Phillip precinct. Located on the fringe of the Woden Town Centre, the building is presently 100% occupied to a mix of long-standing tenants and has been future proofed with numerous recent capital upgrades including the addition of a lift. The large corner site has exposure to passing traffic and includes triple-street frontage and on grade car parking at the rear for 16 vehicles.
Investment highlights include:
- 100% occupancy supported by 7 tenants including a number of long-term occupants and recent renewals
- 3.55-year WALE by income*
- Staggered lease expiries with the potential to extend leases and improve income
- Fixed rental escalators for the majority of leases
- Future redevelopment opportunities^
- High exposure corner site of 1,079m² with 16 dedicated car spaces
- Numerous capital expenditure upgrades including addition of building lift, air-conditioning upgrades and building aesthetics*
72-74 Townshend Street is underpinned by a diverse tenant mix, including a national construction company, office users, retailers as well as health and beauty operators. Phillip is a growing commercial hub in Canberra with Government and private sector employment, new residential developments increasing population growth and major infrastructure projects mooted for the surrounding area. The property presents a strategic opportunity for investors to secure an asset with passive income and alternative long-term strategies^.
The property is offered for sale via an Expressions of Interest campaign closing 15 April 2021 at 4pm (AEST).
