ASX Listed Bank in Central CBD Location

1-3/222 city walk, city

Price: $4,800,000

  • Leased to ASX listed Company
  • 302sqm tenancy with 3 car spaces
  • Net income: $298,500 pa + GST

Property Details

100% leased to Westpac Banking Corporation, trading as St George.
Westpac - 3rd largest ASX listed company with market cap of $95 billion (March 2016).
Renewed 3 year net lease from 1 February 2017 plus options to 2024.
St George has occupied these premises for approx. 26 years.
High profile 302 sqm tenancy with 3 car spaces.
Facing City Walk, a high traffic pedestrian area opposite the entrance to Canberra's largest shopping centre, in the centre of the business district and surrounded by Federal Government agencies, ACT legislative assembly, and other major banks.
Market rent value in this precinct is $1,200/sqm.
Extensive CBD development projects include a new hotel, apartments and a mixed-use development including 20,000 sqm of office space leased to ACT government for 20 years.
Tenant pays all outgoings as per lease, incl. management fees and insurance.
Attractive 3% annual rent increases.
Net income: $298,500 pa + GST.

Featured Details

Gross Building Area 302 sqm
Rent Period Annually

Property Enquiry

Regarding Property ID: 6P0093

Thank you for showing interest in us.

Contact Details

Office Details

Unit 152, Level 1, 41 Eastlake Parade, Kingston ACT 2604

T 02 6152 9113 E canberra@burgessrawson.com.au

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