Canberra’s Most Iconic Daily Needs Investment
36 Mildura Street, Fyshwick ACT
Property Highlights
Description
An irreplaceable ACT landmark with opportunity to add value.
Prime location in the largest and most important commercial precinct in Canberra’s Inner South, 5 km from the CBD.
Major 26,582 sqm* site with 542 car spaces* and 1,500 sqm* of potential expansion land.
Outstanding, long term tenant retention in the Fresh Food Markets with an average ongoing tenure on site of 26 years.
Long 5.62 year WALE* with scope for immediate upside.
Strategic essential service investment with 91% of income from established Daily Needs tenants.
94.5% of income from tenants who traded through lockdowns.
The Fyshwick Markets anchor several major food and beverage manufacturing, supply chain and wholesale facilities in the surrounding precinct, including divisions of Woolworths (PFD), Metcash (ALM) and Bega Cheese (Canberra Milk), all within 500 metres.
Trade catchment of 477,437 residents within 25 km, projected to increase 18.68% to 566,633 by 2031 (GapMaps).
Canberra has the highest average salaries in Australia, 9.9% above the Australian average (ABS).
Total retail expenditure in the ACT region is forecast to balloon by 70% in the next 15 years, from $7.7 billion to $13.1 billion, reflecting an average annual growth rate of 3.6% (Precisely).
Local house prices up 67% in the last 12 months (All Homes).
97% occupancy with passing net operating income of $3,695,794 pa* ($3,830,998 pa* fully leased) with favourable rent reviews across the centre.
Expressions of Interest now closed.
Offers under review.
Property Details