For Sale - Offers Circa $1,200,000 - 5.99% Net Yield (1st April 2023)
Burgess Rawson are delighted to exclusively offer For Sale this bite sized tenanted investment leased to Canberra's latest Sri Lankan Restaurant and Cafe; Short Eats.
35 Furzer Street is part of the Alexander and Albemarle Precinct in the Woden Valley Town Centre and is close to Westfield Shopping Centre in the epicentre of the whole Canberra Region. With over 3,000 apartments in planning or construction, the new CIT with over 6,500 students annually and the light rail terminal all within a short walk coming this is Canberra's town centre renewal project.
The Albemarle and Alexander buildings experienced a large re-development which include 19 tenancies with exceptional tenants including The Alby Pub, Wonderschool Childcare, Bloom Cafe, Hiit Republic Gym and a number of cafes, restaurants and retail offerings. Designed by Capezio Copeland, constructed by BLOC and developed by the National Award-winning Doma Group they re-purposed the existing structure and were able to take advantage of the environmental benefits when transforming the building.
Highlights:
+ 7 Year Net Lease + Options to 2034
+ Attractive 4% annual increases
+ High density corporate population
+ Hospitality institution in busy central CBD location
+ 12,500 people in the public sector within 100 m radius
Lease Term: 7 years lease
Lease Commencement: 01/04/2021
Lease Expiry: 31/03/2028
Increases: 4% Rent Reviews per annum
Option: 2 x 3 year options
Net Income: $71,926 pa + GST (1st April 2023)
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