Burgess Rawson is pleased to present this exceptional investment opportunity exclusively available in the market, with a long term lease secured by Le Monsoon Pty Ltd in the new A&A precinct.
45 Furzer Street is part of the Alexander and Albemarle Precinct in the Woden Valley Town Centre, in close proximity to Westfield Shopping Centre in the epicentre of the whole Canberra Region. With over 3,000 apartments in planning or construction, the new CIT with over 6,500 students annually and the light rail terminal all within a short walk coming this is Canberra's town centre renewal project.
The Albemarle and Alexander buildings experienced a large re-development which include 19 commercial units with exceptional tenants including a foodie precinct that includes The Alby Pub, 86 South, Ramen Noodles, Gemini Cafe and Bloom Coffee. In addition, there is some exceptional national tenants including Viva Leisure's Hiit Republic Gym, Wonderschool Childcare, Velocity Conveyancing and a range of office and retail offerings including a Barber, beautician and Pilates. Designed by Capezio Copeland, constructed by BLOC, and developed by the National Award-winning Doma Group they re-purposed the existing structure and were able to take advantage of the environmental benefits when transforming the building.
Founded by chefs Robi and Antony, Le Monsoon in Phillip is a culinary gem that celebrates the vibrant flavours of South India. Their menu is a masterful fusion of South Indian spices and the freshest locally sourced ingredients. From traditional dosas to expertly crafted curries, each dish reflects the rich heritage of South Indian cuisine. Le Monsoon also has a large catering business operating from the building ensuring a diverse income stream.
Highlights:
- 10-year lease with options to 2043
- Desirable annual rental increases of 4%
- Established South Indian food operator
- Large catering provider
- Tenant pays 100% outgoings
- 3,000 + Apartments under construction or in planning
- High density corporate population
- 12,500 people in the public sector within 100 m radius
Lessee: Le Monsoon Pty Ltd
Lease Term: 10 years.
Lease Commencement: 15 March 2023
Lease Expiry: 14 March 2033
Further Options: Two further terms of 5 years each
Increases: 4% Fixed per annum
Net Income: $112,320 pa + GST
Agents: Guy Randell 0430 272 999 & James Baker 0421 863 040
