Opportunity to secure Phillip commercial site in South Canberra with significant upside

There’s no shortage of activity going on around the Woden Town Centre, with plenty of developments under construction and in the pipeline.

A quick snapshot highlights the brand-new Canberra Institute of Technology, a bus interchange rapidly taking shape, apartment developments and the Hellenic Club’s bold plans for two sites.

The other side of Hindmarsh Drive, which falls more directly in the Phillip zone, has traditionally housed the area’s commercial offerings – but that’s not to say there aren’t other options.

For example, this property in popular Botany Street in Phillip enjoys RZ3 zoning. That will get builder interest with the potential for medium-density, mixed-use development.

The 845-square-metre property with a dual street frontage is currently leased to the Salvation Army until September 2029 with a further five-year option.

This well-maintained, modern structure has an open-plan retail/warehouse layout that is ideal as a showroom. There is extensive on-site parking.

Ben Stevenson of Blackshaw Manuka says the property, which is seeking expressions of interest from $4 million-plus, represents a blue-chip investment in a prime location.

“There’s a lot of investor interest,” he says. “We had about 40 enquiries in the first 10 days.

“They’re attracted to the size of the property, the profile of the tenant and the future development potential.”

Net income is $227,896 a year, while expenses are $138,032 a year. The lease includes a fixed three per cent annual rent review.

Expressions of Interest

7/48 Botany Street, Phillip ACT 2606

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