20-22 Purdue Street, Belconnen, ACT, 2617

Raine & Horne Commercial Canberra are pleased to present 20-22 Purdue Street, Belconnen, for sale. Positioned centrally within the area known as Belconnen Service Trades Precinct, 20-22 Purdue Street presents an outstanding opportunity for investors and owner-occupiers alike.

20-22 Purdue Street occupies a central position within one of Canberra's most established and rapidly evolving commercial precincts, just a short walk from Westfield Belconnen, bulky goods retailers including Officeworks, Bunnings and BCF, government department offices, Lake Ginninderra and numerous existing and proposed residential developments.

Situated on a rectangular-shaped parcel of land, the property comprises a freestanding, single-level commercial building with a total lettable area of approximately 515sqm together with on-grade parking for approximately 12 vehicles. The building benefits from dual vehicle access and egress points via both Purdue Street and Gillott Street, providing excellent convenience for occupiers and visitors. The Crown Lease permits a broad range of commercial uses, including personal services, offices, veterinary hospital, veterinary clinic, manufacturing and business agency.

The property was built in circa 1987 and is of brick construction comprising full heigh glazed shopfronts with fitout comprising a mix of carpet floor coverings, grid ceiling with recessed lighting and plasterboard partition walls. Each unit is individually air-conditioned with ducted air flow through the ceilings. The property is configured in a versatile configuration with multiple entry doors and amenities, providing the ability to split/merge tenancies to meet occupier demand.

The property is configured as 6 tenancies, with four of them (65% of the building) being leased in-one-line to Belconnen Physiotherapy and the other two leased to Early Sunshine Family Day Care and Hydro Algorithmics (office users). All leases have either expired, however all three tenants have signed Heads of Agreements to renew their leases which are currently in the process of being drafted and executed, afterwhich the property will generate an approximate NET income of $152,126pa +GST.

INVESTMENT HIGHLIGHTS

• Prime Belconnen Town Centre location

• Freestanding commercial building with dual street access

• Approximately 515sqm of lettable area

• On-site parking for approximately 12 vehicles

• Fully leased to established commercial tenants

• Diverse income stream across health, childcare and technology sectors

• Strong rental growth provisions including fixed 3.5% annual increases and CPI reviews

• Flexible Crown Lease permitting a broad range of commercial uses

• Approximately 65% of the building leased to a single established 'recession proof' occupier

• Rare opportunity for future owner-occupation whilst deriving holding income

• Significant surrounding residential and commercial development activity

• Excellent accessibility to Westfield Belconnen, major arterial roads and public transport

FURTHER INFORMATION

For further information and due diligence documents (including a comprehensive Information Memorandum, building plans, copies of the leases and the sale contract), or to arrange a private inspection of the premises, please contact the exclusive selling agent at Raine & Horne Commercial Canberra.

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