Raine & Horne Commercial Canberra are pleased to offer 34-36 Townsville Street, Fyshwick for sale by Expression of Interest closing Thursday 30th November 2023.
Fyshwick, a thriving suburb located just 7.5 kilometers from the heart of Canberra's central business district, is a dynamic and multifaceted part of the Australian Capital Territory. Historically recognized as Canberra's premier industrial area, Fyshwick has seen a remarkable evolution over the years. It has expanded its economic horizons beyond heavy industry to embrace a diverse blend of retail and commercial enterprises. Fyshwick's strategic location adds to its allure. It is flanked by the New South Wales border and Queanbeyan to the east and is crisscrossed by the Monaro Highway to the west, a vital thoroughfare connecting the Snowy Mountains to the Hume Highway and Sydney. This geographic positioning makes Fyshwick an essential crossroads for the region, facilitating the movement of goods and services. As the suburb continues to develop and revitalize, it remains a critical contributor to the economic prosperity of Canberra and the surrounding communities. Fyshwick's transformation underscores the adaptability and resilience of urban areas as they respond to changing economic landscapes and the needs of their residents.
34-36 Townsville Street is situated in a central Fyshwick location close to the Post Office. A single-titled building, featuring a high clearance brick-built industrial warehouse of approx. 600sqm NLA on a 1,765sqm battle-axe block, with an exclusive driveway & yard. The property comprises a stand-alone solid brick building that has been subdivided into two clear span units of approx. 300sqm each. Each unit includes roller door access, 3-phase power supply and amenities. The property has been well maintained with a recently replaced roof, insulation, and skylights and also provides enhanced security with a sliding electric-powered security gate (motor replaced in 2023).
• Unit 1 is approx. 300sqm comprising a cedar cladded front showroom, administration office, lunchroom/kitchen, two toilets and an operational cool room. This unit is currently owner occupied and is offered with vacant possession.
• Unit 2 is approx. 300sqm comprising a front showroom with grid ceiling, administration office, lunchroom/kitchen, two toilets and a shower. This unit also has an additional mezzanine storage space above the office*. This unit is currently leased to Lou's Catering Equipment Services.
Due to the shape and configuration of the building, it provides a potential opportunity to subdivide into smaller units, strata title and on-sell individually*. The Crown Lease also provides for a maximum GFA limit of 697sqm, meaning there's an additional opportunity to add mezzanines*.
34-36 Townsville Street, Fyshwick presents a rare opportunity for an owner occupier, passive investor or property flipper to enter the tightly-held industrial market of Fyshwick. The building lends itself to a few scenarios being:
• Occupy Unit 1 with income from Unit 2
• Move into Unit 2 upon lease expiry or substantially increase the rent upon lease renewal
• Lease up Unit 1 and hold as a fully leased passive investment
• Subdivide into smaller units, maximise the GFA limit, strata title & on-sell individually*
Built in the 1980s by the current owner, this is the first time 34-36 Townsville Street has been offered for sale since its construction!
For further information or to arrange an inspection, please contact the exclusive agents, Mark Nicholls or Slava Kholopov of Raine & Horne Commercial Canberra.
* Subject to Council Approval
