Fyshwick retail site with nearly $1m in income hits the market

Who wouldn’t want an annual income of $1 million? The only catch, however, is that your pockets would need to be even deeper, much deeper, to snap up this big-format opportunity in Fyshwick.

On offer is a substantial retail centre of over 5000 square metres, situated on a landholding of more than one hectare on Iron Knob Street. It also includes more than 150 basement and on-grade parking bays.

The property has a long-standing occupancy history, leased to a strong national tenant profile.

It’s currently anchored by Chemist Warehouse, Auto One and Ten Tops.

Guy Randell of Burgess Rawson says the property presents a massive opportunity to establish a presence in this bustling area of Fyshwick.

“The location doesn’t get much better, with more big-box retailers within close proximity,” he says.

“Property syndicates, land bankers and institutional investors are likely to take a very close look at what’s on offer – particularly as a replacement cost would likely exceed the sale price.”

The annual net income is estimated to be just shy of the magic mark at $969,276 plus GST. But the threshold is likely to be quickly passed with fixed 2.5 per cent to 4 per cent compounding annual rental increases.

The property sits opposite the Canberra Outlet Centre and close to Bunnings, Officeworks, The Good Guys, Harvey Norman, Bing Lee, and more.

SOLD - Price Withheld

17 Iron Knob Street, Fyshwick ACT 2609

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