Raine & Horne Commercial Canberra are extremely excited to present 24 Garema Place, in the retail core of Canberra CBD, for sale by Expression of Interest closing Thursday 9th March 2023.
Since 1927, the Frawley Family have been bringing quality footwear and old-fashioned customer service to Canberra. Frawleys began selling shoes in Queanbeyan in 1927, before expanding to Kingston and Canberra CBD where they have operated since the building was constructed in 1958 (65 years ago!). Frawley's flagship store at 24 Garema Place will soon be closing, which will bring an end to this iconic and long-standing Canberra retail offering.
24 Garema Place is a conventionally designed single-title two-storey commercial building constructed in the 1950's. The building is situated on a regular-shaped 197sqm block and positioned within the main retail core of Canberra CBD with prominent frontage to busy Garema Place and a stone's throw away from The Canberra Centre. Both the ground floor and upper floor tenancies have rear access to Tocumwal Lane which provides plenty of car parking and a loading zone directly adjacent to the rear door.
The ground floor measures approx. 189sqm and has been owner occupied by Frawleys Shoes since the time of construction, however will soon become vacant, providing an extremely rare opportunity for an owner occupier to trade from this outstanding location with a high degree of daily foot traffic. The fitout comprises a tiled arcade entry area with aluminium framed sliding doors and a main shop area with suspended grid ceiling with recessed fluorescent lighting. The main shop area has built in shelves along the sides of the tenancy, an office with adjoining storeroom and a rear store room with concrete floor and rear access for loading.
The upper floor measures approx. 167sqm and is currently occupied by Rice Thai Restaurant. The restaurant has customer access via a stairwell fronting Garema Place and is fitted out with a dining area with seating throughout the front overlooking Garema Place, a good size stainless steel commercial kitchen with mechanical exhaust, cool room and access to a grease trap, store rooms and customer toilets (two male, two female) and concrete stairwell located at the rear. Rice Thai Restaurant is currently holding over on a month-to-month lease, providing the buyer with the ultimate flexibility to either extend or terminate the lease.
For further information or to arrange a private inspection, please contact the exclusive sales agent, Mark Nicholls of Raine & Horne Commercial Canberra on 0417 239 551.
