OFF MARKET

18/19 Eastlake Parade
Kingston ACT 2604

Bedrooms: -
Bathrooms: -
Car spaces: 1
Floor area: 149m2
Land area: 3160m2
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Property Details for 18/19 Eastlake Pde, Kingston

Building Type
Commercial
Year Built
2013
Floor Size
149m2
Land Size
3160m2
Local Government
Canberra Central
Lot/Plan
KINGSTON: Block 2, Section 51, Unit 75

Last Listing description (March 2023)

Belle Property Commercial Canberra are pleased to present to market 18/19 Eastlake Parade, Kingston. Currently leased to multi award-winning restaurant, Morks, this Thai casual/fine-dining offering is one of the ACT's most widely recognised and well-loved establishments.

Offering absolute waterfront dining, Morks sits on the Southern shores of Lake Burley Griffin in a bustling precinct of bars, eateries and cafes. Located only 4 kms from Capital Hill, the Canberra CBD and the Airport, it is an oft-frequented haunt of the business and political elite.

The property offers the following highlights for investors:

- 5 + 5 year Lease to 2 February 2028 (if Option exercised, expiry 2033)
- Fixed 4% annual rent increases
- Morks: One of Canberra's finest restaurants. "Hatted" by both Sydney Morning Herald and Australian Good Food Guide
- 149 sqm with 40 sqm dedicated, undercover outdoor seating area on Title
- Part of one of Canberra's most exciting retail precincts
- Affluent main trade area, close to Parliament House, Defence Precinct and Airport
- Net income: $110,185.05 pa plus GST

Interested parties are invited to submit their expressions of interest for the purchase of 18/19 Eastlake Parade, Kingston by 4.00 pm, Thursday 23 March 2023.

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Property History for 18/19 Eastlake Pde, Kingston, ACT 2604

A timeline of how this property has performed in the market
Last Sold
$1,775,000
22 Mar 2023
  • 22 Mar 2023
    Sold for $1,775,000
  • 22 Feb 2023
    Listed for Sale For Sale by Expressions of Interest
  • 22 Feb 2013
    Sold for $975,000

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About Kingston 2604

The size of Kingston is approximately 1.4 square kilometres. It has 8 parks covering nearly 8.1% of total area. The population of Kingston in 2011 was 2,978 people. By 2016 the population was 4,417 showing a population growth of 48.3% in the area during that time. The predominant age group in Kingston is 20-29 years. Households in Kingston are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Kingston work in a professional occupation. In 2011, 35.3% of the homes in Kingston were owner-occupied compared with 40.2% in 2016.

Kingston has 5,068 properties.

    There are currently 19 properties listed for sale, and 32 properties listed for rent in Kingston on OnTheHouse. According to CoreLogic's data, 230 properties were sold in the past 12 months in Kingston.

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