47 Jerrabomberra Avenue Narrabundah ACT 2604

Burgess Rawson is pleased to present a rarely available development opportunity with a long term rental to a strong tenant available for sale by expression of interest.

47 Jerrabomberra Avenue in Narrabundah is a purpose-built veterinary facility on a spacious block, featuring two well-maintained buildings and ample parking with over 20 carparks. The main building, housing the Veterinary Centre, and the second building, a house that has been repurposed and dedicated as a pet accommodation area. The property also includes a large, secure yard area for animal exercise and recovery. A 12-month demolition clause also applies to the house, with redevelopment plans for a 98-place childcare centre already drawn in addition to the Veterinary practice. This allows a secure income stream whilst developing the potential childcare centre.

With strong needs for Childcare in the ACT, with numerous prospective tenants waiting for the opportunity to lease.

A veterinary practice has been operating on this site for more than 40 years and the current tenant, VetPartners, has indicated that they want to continue to enjoy this excellent location. VetPartners is Australia's and New Zealand's leading vet care network, with over 270 practices, support offices, and training centres. Their team has grown to more than 5,000 passionate people, all dedicated to delivering top-notch pet healthcare to local communities.

Highlights:
- 3777sqm land area
- 5-year net lease with options to 2030
- Established operator with over 270 practices across Australia and New Zealand
- Tenant pays 100% outgoings
- CZ6: LEISURE AND ACCOMMODATION
- 12-month demolition clause with plans for a 98-place childcare centre

Lessee: VetPartners Pty Ltd
Lease Term: 5 Years
Lease Commencement: 12 December 2022
Lease Expiry: 11 December 2027
Further Options: 1 x 3 years (to 2030)
Increases: CPI

Net Income: $187,380pa

Potential Childcare
+ 20 year lease with options
+ 98 Place Childcare centre
+ 4% increases per annum
+ 100% outgoings by tenant
+ Net Income: $416,500

New Cattery
+ Extension onto the Vet Clinic
+ Additional Vet Net Income: $52,615pa + GST

Total Potential Net Income
+ $656,495 pa + GST

For Sale by Expression of Interest closing COB 27th September 2024

Agents: Guy Randell 0430 272 999 & James Baker 0421 863 040