This fantastic investment comprises 5 contiguous modern office suites providing approximately 1040 sqm of accommodation over two levels with direct frontage on to busy Wentworth Avenue.
Adjacent to the Kingston Foreshore/Lake Burley Griffin and within walking distance of the Parliamentary Precinct, Kingston Shops, Manuka Shops and Manuka Oval, this property is positioned to take advantage of the growth in values in the inner south of Canberra. Some of the the positives of the investment opportunity are listed below;
Whilst the units are currently leased to 1 tenant, they could be subdivided to provide up to 5 separate units, allowing them to be sold or leased individually in the future. The tenant is just about to refurbish the units with new paint, carpet & a reconfigured fit out.
A major positive aspect of these units that many similar properties do not possess is the ability to be used for a range of commercial and/or residential purposes including office, community use (includes medical) restaurant, retail (restricted) and tourist facility. This coupled with their ability to be sold or leased as 5 separate units provides a huge amount of flexibility for an intending purchaser.
Leased to Oakton Services Pty Ltd, a direct subsidiary Dimension Data, a South African company with revenues of circa $7.5 billion who are owned by Nippon Telephone and Telegraph, a Japanese publicly listed company with revenues of circa $11.39 trillion yen.
11 year lease until 11 December 2022 with fixed 3.5% annual increases from 13/12/2019.
Estimated net income of $392,199 pa plus GST as at 13/12/18
These units come with 16 single basement car spaces, 4 tandem basement car spaces and 32 sqm of basement storage. Ample off street visitor parking is located directly at the front door.
This part of Kingston is set to benefit from the impending Kingston Arts Precinct and the Eyre Street Markets developments.
Fronting Wentworth Avenue these unbits offer a rare opportunity to obtain exposure to one of Canberra's major vehicular thoroughfares whilst having free public parking at the front door.
Expression Of Interest closing 4pm on 28th November 2018.
