Raine & Horne Commercial Canberra are pleased to offer Units 181 & 182, 8 Gribble Street 'Ruby' Gungahlin for sale by Expression of Interest.
Now is your chance to secure this extremely rare 'set and forget' tenanted investment underpinned by a brand new 3+1+1 year lease to the ACT Government!
Jade and Ruby are two recently completed mixed-use developments that sit side-by-side, developed by POD Projects, designed by Stewart Architecture and built by Core Building Group, and located in the Town Centre of Gungahlin, ACT; one of the fastest growing regions in Australia! Jade & Ruby comprise a total of 346 residential apartments and 15 ground floor commercial units. The Crown Leases permit a broad range of uses including shop, medical, office, recreation & restaurant. Each ground floor unit boasts fantastic street exposure, allocated car parking on title and access to common amenities including rooftop pool areas, gymnasiums and BBQ facilities. They also benefit from free public parking to the front plus a large Bunnings carpark only a stone throw away. All of the ground floor units at Jade and Ruby are now ether leased or sold with occupiers comprising a mix of complementary user types such as Broaster Chicken, Laundromat @ Gungahlin, One Agency, The Fortius Collective, Café Social Hub, Gungahlin Kebab & Pizza, Katmandu Hair & Beauty and Gungahlin Fresh Food Market.
Units 181 & 182 are two adjacent ground floor units which have been leased as a combined 220sqm tenancy to The ACT Government, who are proposing to construct a brand new high quality office fitout in the coming weeks. High level lease terms are as follows:
• Tenant: The Australian Capital Territory
• Lease Commencement: 1 July 2023
• Lease Term: 3+1+1 years
• Gross Annual Rent: $145,380 +GST
• Rent Review Structure: Rent increases annually by 3.5% upon the anniversary of the lease AND exercise of the options
The FY22/23 statutory outgoings for both units are:
• Rates: $7,652
• Strata: $6,753
• Water & Sewerage Supply: $1,404
• Total: $15,809
ANNUAL NET INCOME: $129,571
It's not often that a bite-sized tenanted investment coms to market which is underpinned by a brand new lease to a government tenant! Located in prime town centre location with no stamp duty payable and substantial depreciation benefits! Key features of this opportunity are listed below:
• Brand new lease to ACT Government with internal fitout works due to commence shortly
• Prominent 220sqm ground floor tenancy in high density location in one of Australia's fastest growing regions
• Wide corner street frontage situated in landmark town centre 'Ruby' development by POD Projects
• Close proximity to Bunnings Warehouse, Gungahlin Marketplace, Gungahlin Square & Gungahlin Village Shopping Centre comprising anchor tenants such as Big W, Kmart, Coles, Aldi & Woolworths.
• 4 secure car parks on title
• Basement carpark below and 3 levels of parking above (meaning no apartments directly above)
• 2 separate units (meaning two front doors, 2 rear doors and flexibility to sell individually in future)
• No stamp duty applicable (due to each unit valued under $1.8m)
• No GST applicable (due to supply of a going concern)
• Wide Crown Lease purpose clause permitting a range of uses such as child care, health facility, restaurant, recreation, office & shop
• Brand new high quality and versatile proposed office fitout which becomes the owners property at end of lease
Units 181 & 182, 8 Gribble Street 'Ruby' Gungahlin are being offered for sale by Expression of Interest. For further information including detailed proposed fitout plans and strata records, or to arrange a private inspection, please contact Mark Nicholls of Raine & Horne Commercial Canberra on 0417 239 551.
