Knight Frank Canberra are pleased to offer for sale, by way of Expressions of Interest, a rare ground floor unit in the heart of the Phillip Service Trade area.
The precinct, landlocked by major arterial roads, Melrose Drive to the West, Hindmarsh Drive to the north, and Athllon Drive to the east, has long been heralded as a cost effective yet centrally located quasi-industrial area. The planning direction for the Phillip service trade area from recent Woden Town Centre planning reforms, have reinforced the area as a site for future mixed-use development, which will lead to an increase in its gentrification. Residential development in the central subsector will ensure the precinct can continue to provide important trade services in other areas of the locality, and offer businesses a captive immediate residential audience. This offers an investor good future potential upside. Buildings throughout the area are afforded some of the best free on-grade car-parking options in the ACT, ideal for customers and staff alike.
The property itself is a single level, largely brick construction and rectangular shaped tenancy fronting Dundas Court. 5/28 Dundas Court also uniquely has rear roller door access via Prospect Court. Currently presenting as a mechanical workshop, the asset will be offered with a short term month to month arrangement in place, allowing a potential investor to renegotiate with the existing tenant, or occupy for their own business purposes (subject to vacant possession). The lettable area of the building is 220 sqm however there is a fenced and gated rear yard area with exclusive access and usage for the occupier of unit 5. Additionally, there is a further common car-parking to the rear on site shared with unit 6.
Currently leased to Tracks Adventure Gear - $5,142.50 inclusive of GST per calendar month
Outgoings:
- ACT Government Rates: $3,445 per quarter, plus GST
- Strata Fees and Levies: $967.50 per quarter, plus GST
- Icon Water and Sewerage: $175 per quarter, plus GST
Interested parties are invited to submit their expressions of interest for the purchase of by 4.00 pm, Thursday 17 August 2023.
