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Flax House is a prominent, free-standing commercial property providing 1,897sqm of NLA across two levels in the heart of the growing Tuggeranong Town Centre supporting over 88,000 residents. The majority of the building is occupied by a childcare centre with this income well supported by medical, office and café tenants.
The property is prominently situated on Cowlishaw Street, within the Tuggeranong Town Square which is within walking distance to a large federal government workforce Services Australia, the Southpoint Shopping Centre, Anketell Street, public transport and the Lake Tuggeranong foreshore. The importance of the location is evident in the ACT Government’s recent investment of $7 million to upgrade the landscaping and streetscape on Flax House’s doorstep.
The property is presented with a WALE of 10.02 years by income, and recent capital expenditure creates an attractive investment proposition for investors seeking true diversification in their portfolio.
- Freestanding childcare & medical anchored investment of 1,897sqm NLA
- Site Area: 1,717sqm in the heart of Tuggeranong Town Centre
- Over 97% leased with a 10.02 year WALE (by income)
- Major refurbishment completed in 2019, creating easy to manage investment
- 90% of income has fixed annual increases of 3% or higher ensuring growth
- Net passing income: $694,805 pa + GST
For sale by expression of interest, closing 4pm AEDT Tuesday 10 November 2020.