Hackett residential complex goes under the hammer as ANU sells up

An 18-unit residential complex in Hackett will go under the hammer in November, providing investors with the rare opportunity to buy a complete, existing building in an established location.

Knight Frank agent Daniel McGrath says the ANU has owned the property for the past 30 years, with the units occupied by university staff.

“It’s a very unique opportunity to purchase a complex in its entirety, especially as it’s in such an established and well sought after location,” McGrath says.

“Most properties of this kind are owned by several individual owners. The complex has been upgraded over the years and presents well in its current format.”

The 2260-square-metre site comprises 12 two-bedrooms and six one-bedroom units across three levels. Each unit includes an updated bathroom and kitchen. The units contain a subsidiary of one allocated, covered car space and a common laundry block is located at the rear of the site.

Each unit is fully furnished and includes appliances and the property will be sold with vacant possession.

Situated just 10 kilometres from the Canberra CBD, Hackett is easily accessible from main arterial roads including Northbourne Avenue, Limestone Avenue and the Federal Highway.

McGrath says this central location has been appealing to a diverse range of potential buyers.

“We’ve received interest from all sectors of the market from private investors to interstate investors and even super funds,” he says.

The property is well placed within the suburb and situated on the main thoroughfare, Madigan Street. It is directly adjacent to the Hackett local shops, primary school and community facilities. The Dickson group centre is located within close proximity, offering a range of essential services.

McGrath says there are also plenty of opportunities for buyers to value add to the complex.

Number 75-77 Madigan Street, Hackett, will be auctioned on Thursday, November 19 at 11am, onsite. Bidder registration will be open from 10.30am. Phone Knight Frank agents Daniel McGrath and Nic Purdue on 0411 140 523 or 0459 481 544.