Long Term Business in Premium Waterfront Precinct

158/45 Eastlake Parade, Kingston ACT

Property Highlights

10 Year Net Lease
Extensive Fitout Works
Fixed 3% Annual Increases

Description

Burgess Rawson are delighted to exclusively offer for Sale by Auction this exceptional investment leased to the well known Top Cat Dry Cleaning on a 10 year Net lease.

158/45 Eastlake Parade is part of the Element Development in the ever popular retail and residential Waterfront precinct of Kingston Foreshore.

Kingston is one of the oldest and most densely populated suburbs in the nation’s capital, is located a mere 4kms from Canberra’s CBD, and is in close proximity to various hotels and attractions. Recently Kingston has undergone a vast amount of redevelopment with the likes of the Kingsborough Development being completed and the Kingston Arts Precinct yet to come.

Element; Developed by the notable Englobo Group, brings a mix of water front, and street side commercial tenancies as well 140 residential apartments to the shores of Lake Burley Griffin.

This exceptional asset provides a long-term investment for any keen investor.

Highlights Include:
– 10-year lease plus 2 x 10 year options to 2051
– 3% Fixed Annual Increases
– Tenant pays 100% of outgoings
– Total Area: 164 sqm
– Busy retail and residential Waterfront precinct
– Over $700,000 in fitout costs
– Zoning: CZ5 Mixed Use

Lessee: Hameed’s Family Services Pty Ltd
Lease Term: 10 Years
Lease Commencement: 9th May 2021
Lease Expiry: 8th May 2031
Options: 2 x 10 Years

Net Income: $114,400 pa + GST

Property Details

Listing
Sale
Land Size
164 SQM
Building Area
164 SQM

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