Burgess Rawson is delighted to present an outstanding investment opportunity available exclusively at the Portfolio Auction. This property features a lease secured by Semstar Pty Limited, located 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 have undergone a significant redevelopment, resulting in 19 commercial units occupied by exceptional tenants. The foodie precinct features popular spots like The Alby Pub, 86 South, Ramen Noodles, Gemini Cafe, and Bloom Coffee. Additionally, notable national tenants include Viva Leisure's Hiit Republic Gym, Wonderschool Childcare, Velocity Conveyancing, along with a variety of office and retail offerings such as a barber, beautician, and Pilates studio. Designed by Capezio Copeland, constructed by BLOC, and developed by the nationally award-winning Doma Group, the redevelopment successfully repurposed the existing structure, capitalizing on its environmental benefits during the transformation.
Seminara & CO Properties emerged in 2020 under the leadership of Lou Seminara, a seasoned investor disenchanted with the conventional franchise model dominating the industry. Driven by a steadfast commitment to elevate the standard of service, S&CO was conceived as a sanctuary for investors seeking a more personalised and results-driven approach.
Highlights:
- 3-year lease with options to 2029
- Desirable annual rental increases of 3%
- Established Real Estate Agency
- 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: Semstar Pty Limited
Lease Term: 3 years
Lease Commencement: 1 June 2023
Lease Expiry: 31 May 2026
Further Options: One further term of 3 years
Increases: 3% Fixed per annum
Net Income: $71,070 pa + GST
To be sold by Investment Portfolio Auction
10:30am AEST Tuesday 6 August 2024
Sydney Opera House
Agents: Guy Randell 0430 272 999 & James Baker 0421 863 040
