A shopping strip with the lot

Canberrans have an ongoing love affair with their local suburban shops, which translates into a high level of investor interest when options come to market. Here’s an unrivalled opportunity to own a complete strip of shops in Kambah.

The popular Carleton Street strip comprises seven units, leased to a diversified mix of tenants including a childcare, florist, gym, hairdresser, takeaway, fashion boutique and of course one cannot forget a cafe.

The precinct is located off a busy intersection and offers ample parking options for customers.

James Baker of Burgess Rawson Canberra says it offers an investor the opportunity to acquire a solid property asset.

“It’s in a high-exposure location and enjoys a high level of vehicle and foot traffic,” he says.

“A large part of the appeal is the careful balance of tenants that service a wide variety of needs – from a coffee shop to a takeaway or maybe that special item of clothing.”

Tenants are on lease terms of between three and seven years, most with options and with an average 3.2 per cent annual rent increase, according to Baker.

“This is an exceptional investment hold with long-term development potential in Canberra’s biggest suburb,” he adds.

The shop sits on 1893 square metres with a building footprint of 690 square metres.

It has easy access to Sulwood Drive, Drakeford Drive and the Tuggeranong Parkway.

Auction: 10.30am, December 6 Agent: Burgess Rawson Canberra, James Baker 0421 863 040