Units 5 & 12/30 Garema Place is a leased retail investment with long-term occupancy by Canberra's iconic Landspeed Records.
The Units are perfectly positioned in the heart of the Garema Place retail pedestrian mall, which includes some of Canberra's highest foot traffic.
This highly sought-after location occupies an enviable position at the gateway between Bunda Street's 'Canberra Centre', Garema Place and City Walk.
Landspeed Records is Canberra's longstanding independent record store being deeply rooted in Canberra's music and pop culture scene. Established in 1994, Landspeed Records has occupied its current store on Garema Place since 1997.
Key attributes of the opportunity are as follows:
Premium ground floor frontage to Canberra's premier pedestrian thoroughfare Established tenant with long-term trading history Recently exercised 3-year Option over Unit 5 with market review Monthly arrangement over Unit 12 (first floor) Passing Net Income of $54,373 per annum plus GST Weighted Average Lease Expiry of 2.84 years (as at 1 December 2023) Two (2) separate Titles creating flexibility in ownership and occupancy
CBRE is delighted to offer Units 5 & 12/30 Garema Place for sale by Expressions of Interest closing Tuesday 12 December 2023 at 4pm (AEDT).