Raine & Horne Commercial Canberra are pleased to present 20-22 Purdue Street, Belconnen, for sale by public auction. 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 futout 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.
TENANCY SUMMARY
Currently, the property is configured as 6 tenancies, with four of them being leased in one line to Belconnen Physiotherapy and the other two leased to Early Sunshine Family Day Care and Hydro Algorithmics, however all leases have either expired, are due to expire shortly or have never been executed.
Units 1-3 are leased to Belconnen Physiotherapy expiring on 31 July 2026. While the lease includes two further 5-year options, and it's understood that the tenant wishes to continue in occupation, they have not provided notice to exercise the upcoming option (which, under the lease terms, must be served between 6 and 12 months prior to expiry). Unit 4 is also leased to Belconnen Physiotherapy, however the draft lease was never executed. Unit 5 is leased to Early Sunshine Family Day Care as office premises, however the draft lease was never executed. Unit 6 is leased to Hydro Algorithmics as office premises which expired in Dec 2025 and they are currently holding over on a month-to-month basis.
This subsequently presents an opportunity for a purchaser to occupy 100% of the property by giving the sitting tenants the required notice to vacate, should it be desired. Purchasers can benefit from secure income in the short-term while unlocking future owner-occupier potential, with the ability to occupy part or all of the building. Alternatively, investors can renegotiate the leases with the tenants to secure a longer-term income-generating asset. This combination of immediate cash flow and long-term upside is seldom available in such a well-connected location, surrounded by a range of established amenities.
FINANCIAL SUMMARY
• Passing Gross Rent: $167,758
• Statutory Outgoings: $30,319
• Recoverable Outgoings: $9,936
• Passing NET Income: $147,375
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 4% 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 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
20-22 Purdue Street, Belconnen will be auctioned on-site at 11am, Wednesday, 22 July 2026. 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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