2/173 Flemington Road

Mitchell ACT 2911

The property is an elevated strata-titled 2-level unit totalling 504sqm (258sqm ground floor & 246sqm upper floor) with frontage to Flemington Road and benefits from 7 allocated on-site car parks, plus plenty of customer parking to the front. Internally, the space presents extremely well with 5 generously sized open plan studios, one office, 2 toilets (one with shower), storeroom and kitchen, with hard wood flooring and great natural light through multiple large windows. Each room is separately air conditioned with a mix of ducted and wall mounted reverse cycle units.

The property is zoned IZ2 (Industrial Mixed Use Zone) with a Crown Lease permitting a range of uses including bulky goods retail, office, light industrial, health facility and indoor recreation.

The property is currently leased to Lucas Studios on the following terms:

Lease Commencement - 16th February 2019
Lease Term - 6 years (expiring 15th February 2025)
Additional options - 3+3+3 years (to 15th February 2034)
Rent Review Structure - adjusted annually in line with CPI, market rent at option
Passing Gross Rent - $101,144pa +GST
Current Statutory Outgoings - $12,295pa
Passing Net Income - $88,849pa +GST
Security - bank guarantee of $24,310

Invest in this exceptional property and start reaping the rewards of a stable and profitable investment in the lucrative Canberra market, and capitalise on the city's growing industrial sector. We encourage interested parties to act promptly to secure this exceptional property in one of Canberra's key industrial suburbs and most sought-after locations.

For further information including a copy of the lease and sales contract, or to arrange a private inspection of the premises, please contact the exclusive sales agent, Mark Nicholls of Raine & Horne Commercial Canberra on 0417 239 551.