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.

Price on Request

17 Iron Knob Street, Fyshwick ACT 2609

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