A Grade Office Space with Tier 1 Tenant
The Creswell, Unit 41, 65 Constitution Avenue is being sold with a five-year lease plus one five-year option to Hindmarsh Construction Australia. The lease will commence on settlement allowing the new owner to have 5 full years of income. The property will generate a gross revenue of $695,469 in the first year with approximate outgoings of $95,900.
The unit has excellent frontage to Constitution Avenue directly opposite the Ben Chifley building housing ASIO, and easy access to Russell the epicentre for Australian Defence.
The age of The Creswell development means limited ongoing capital expenditure creating low ongoing costs and presenting compelling returns.
The commercial unit benefits from an exclusive entrance, dedicated air conditioning, plant and toilets which limits investors having to rely on body corporate for cleaning and servicing inside the tenancy. The property also has its own exclusive lift with access from the basement.
• Attractive 5 year WALE
• 100% Leased to secure Tier 1 Construction company - Hindmarsh Construction who have occupied the adjacent building for over 40 years prior to The Creswell development
• Premium office space located in Defence and Security precinct
• 1,276sqm tenancy over 2 levels with exclusive entry point on Constitution Avenue
• Fixed annual rental reviews of 3.25% which ensures rental growth of the asset well above CPI figures
• Excellent 46 secure basement carparks with a ratio of 1 park to 28 sqm of office space
• Situated on the corner of Constitution Avenue only minutes from Canberra CBD, Parliament House and directly opposite ASIO headquarters and the nearby Department of Defence Building at ANZAC Park West
• Estimated Net Income $599,569
For sale by expression of interest closing 4pm AEST Tuesday 8 September 2020.
For more information or to arrange an inspection please contact the exclusive listing agents, JLL.
All figures are approximate.
The Creswell, Unit 41, 65 Constitution Avenue is being sold with a five-year lease plus one five-year ...
11 Aug 2020