Raine & Horne Commercial Canberra are pleased to offer 7 Kembla Street Fyshwick for sale by Expression of Interest closing Wednesday 20th March 2024.
Fyshwick, a thriving suburb located just 7.5km from the heart of Canberra's central business district, is a dynamic and multifaceted part of the ACT. 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.
7 Kembla Street is a freestanding, single-titled building prominently and centrally located in the heart of Fyshwick on the Wollongong Street end of Kembla Street and has recently been refurbished internally and externally to an extremely high standard. This property arguably has the best-looking facade in this highly sought after industrial and bulky goods retail precinct.
The property is currently 100% leased in two parts:
FRONT SHOWROOM (226sqm):
The front part of the building is fitted out a showroom with open plan sales area, offices and amenities. This area is leased to Baytina Tiles Supplies on a passing rent of $62,668pa +GST. The lease expires in May 2025 with a 5-year option. Baytina Tiles Supplies have shown their intention to exercise the option due to their significant investment into the fitout and have also advised that they would consider signing a brand new 5+5 year lease, if required by an incoming investor.
REAR WAREHOUSE (810sqm):
The rear part of the building is accessed via a driveway to the right-hand-side of the building and is configured as 564sqm on the ground floor and 246sqm mezzanine. The rear part of the property is leased to Stockade Training Centre on a passing rent of $159,319.60pa +GST. The lease expires in Dec 2025 with a 5-year option.
For further information or to arrange an inspection, please contact the exclusive selling agents, Mark Nicholls or Slava Kholopov of Raine & Horne Commercial Canberra.
