Adjoining buildings hit the market in Canberra's evolving Garema Place

Only last month, Monopoly released the Canberra-themed edition of the world’s most popular board game.

Of course, one could arguably say residential and commercial buyers have, in effect, been playing it in real-time throughout the ongoing property boom.

Those who have already “passed go and collected $200” along the way may like to snap up a big chunk of Canberra’s city centre.

On offer, and a rare one at that, are fully tenanted, adjoining buildings in Garema Place with a net lettable area of just over 800 square metres.

Matthew Winter of Colliers Canberra says it’s rare to see multiple buildings offered for sale in one line.

“There have been limited opportunities to acquire low-rise, retail-style investments within the core CBD precinct,” he says. “This is an unrivalled opportunity for an investor to take a major stake in Canberra’s city centre.”

Winter says it also offers the potential to increase returns during lease renewals or to release space for owner-occupancy.

“There’s also future potential to develop this generational style asset in the centre of the CBD,” he says. “Garema Place is now on the cusp of renewal with exciting projects set to transform the city centre.”

These include the London Circuit light rail extension, a five-star luxury hotel and a $150 million office development.

$8,880,000

5-15 Garema Place, City ACT 2601

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