This commercial listing could be your next home in disguise

It could be argued that character buildings in the local commercial market fall within the unicorn category.

Sightings are rare, but chances increase in the longer-established inner suburbs.

And tucked away in the heritage precinct of Murray Street, Griffith – and only about 100 metres from the Manuka Village shopping centre – is this tenanted, standalone, two-storey opportunity.

It offers 224 square metres of lettable space over two strata-titled units and delivers annual net income of about $91,000.

Unit 1 on the ground floor is leased to a holistic wellness centre and is in the second year of a three-year deal with an option to extend for a further three years.

A legal firm leases the second unit. An opportunity may open for a new owner-occupier with the lease ending in November.

Eight car bays are attached to the building.

Doug O’Mara of Civium Property Commercial says character is a strong part of the appeal.

“These buildings tend to be tightly held and you just don’t see many 1930s-era commercial properties come to market in the ACT,” O’Mara says.

“Interestingly, while the building is zoned commercial, the potential exists to return it to residential.”

While being sold in line, individual strata titles mean a sale of both would not attract stamp duty and, leased as “going concerns”, would be GST exempt.

“These represent big upfront savings for an investor or owner-occupier,” O’Mara says.

The listing comes with a price guide of $2 million-plus. Expressions of interest close 3pm, May 15.

Contact Agent

Whole site/35 Murray Crescent, Griffith ACT 2603

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