Dual-Frontage Industrial Investment | 56% Leased to Department of Defence
Raine & Horne Commercial Canberra are pleased to offer 72-74 Wollongong Street / 102 Gladstone Street, Fyshwick for sale, which can be sold as 5 individual strata units or 'in-one-line' as a standalone multi-tented building.
Fyshwick is Canberra's premier mixed-use industrial precinct, located 11km* south-east of the CBD within the South Canberra region. Established in the 1930s, the suburb has evolved into a tightly held industrial and service hub, characterised by a diverse mix of warehouses, showrooms and workshops. The precinct is predominantly industrial in nature, with a minimal residential population, reinforcing its role as a key employment and logistics hub. This exceptional standalone industrial asset is positioned within the heart of Fyshwick's core industrial precinct, offering dual street access via Wollongong Street and Gladstone Street - two of the suburb's busiest thoroughfares.
Constructed circa 1991, the property comprises a unit-titled industrial development consisting of five separately titled units totalling 1,478sqm*, all currently held under single ownership, meaning the units can be sold individually (subject to establishing a body corporate). The property is situated on a battle-axe-shaped block of 3,739sqm* and benefits from excellent dual ingress/egress via Wollongong & Gladstone Streets, comprising a concrete hardstand that provides parking for 22* vehicles, boundary fencing and basic landscaping.
The asset is underpinned by a secure and diversified income stream, anchored by a Federal Government tenant occupying Units 1 and 3 providing long-term stability.
• Units 1 & 3: Two combined units measuring 825sqm* (56%* of total building area) comprising multiple warehouse/workshop areas, storage rooms and amenities. Leased to the Commonwealth of Australia Represented by the Department of Defence on a 5-year lease expiring 30 April 2029 + 2-year option. Gross rent (as at 21st May 2026): $159,077pa ($193/sqm) +GST
• Unit 2: Semi-detached warehouse measuring 266sqm*, incorporating entry/waiting area, boardroom, open plan office, lunchroom with kitchenette, and separate amenities. Includes warehouse space and a basic mezzanine (not included in lettable area due to approval status). Leased to ACG Air Conditioning Pty Ltd on a 3-year lease expiring 8th March 2028 + 3-year option. Gross rent (as at 10th April 2026): $54,080pa ($203/sqm) +GST plus increases in statutory outgoings over the base year 2025.
• Unit 4: Attached warehouse/workshop with office, kitchenette and separate amenities. Leased to Sonam Recycling Pty Ltd on a 3-year lease expiring 14th April 2028 + 2+2 year options. Gross rent (as at 15th April 2026): $46,800pa ($233/sqm) +GST
• Unit 5: Semi-detached café tenancy with exposure to Gladstone Street featuring dining/seating area, commercial kitchen with exhaust, food preparation area, cool room/freezer, storage and amenities. Leased to Two Brothers Services Pty Ltd (trading as Asian Eatery) on a 5-year lease expiring 21-Feb-27 with no option. Gross rent (as at 22nd February 2026): $37,450pa ($201/sqm) +GST.
Gross Income: $297,407pa*
Outgoings: $72,067pa*
Net Income: $225,340pa*
Key Features:
• Standalone industrial asset on 3,739sqm block
• Five strata-titled units on one holding (no body corporate)
• Opportunity to purchase all 5 units 'in-one-line' or individually
• Dual street frontage and access to two major Fyshwick thoroughfares
• Strategic core Fyshwick location with long-term upside
• 56% leased to Department of Defence*
• WALE underpinned by government and established tenants
• Fully leased with diversified income profile
• Net Income: $225,340pa*
72-74 Wollongong Street / 102 Gladstone Street, Fyshwick provides a rare opportunity to acquire a securely leased industrial investment with strong fundamentals, government income, and future flexibility in one of Canberra's most tightly held industrial markets. The property is for sale by Expression of Interest (EOI) closing Thursday, 7 May 2026. For further information or to arrange an inspection, please contact the exclusive agents at Raine & Horne Commercial Canberra.
*approx.
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