Landmark commercial site in Fyshwick's East Lake precinct up for grabs

Think about Fyshwick and thoughts often turn to the streets that run off Newcastle Street and home a multitude of commercial and retail businesses.

There’s “another” Fyshwick, however: the part that butts up to Kingston. It’s here that a massive landholding, forming part of the East Lake precinct, now comes to the market.

Frank Giorgi of Ray White Commercial calls 19 Mildura Street a “once in a generation” development and investment opportunity; one that will appeal to deep-pocket developers, investors and land bankers.

The property truly is massive – more than 30,000 square metres – with tenanted buildings that cover nearly 6500 square metres.

“This is a prime opportunity to get a foothold on a significant landholding in one of Canberra’s most central and established commercial precincts,” Giorgi says.

While the potential of the landholding is considered by a new owner, the waiting period will be softened by a net income of more than $1.1 million a year, plus GST, from three existing tenants, including Jim Murphy’s Market Cellars and Wine Storage.

Giorgi says the property is currently underutilised in terms of its landholding, but its location puts it within the scope of the ACT government’s East Lake Place Plan.

“That’s a tempting prospect for potential buyers with the plan’s focus on future urban renewal and regeneration,” he says.

By Negotiation

19 Mildura Street, Fyshwick ACT 2609

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