The ultimate ‘set and forget’: A unique Googong asset on the market

If you’re an investor looking for the ultimate “set and forget”, gold-plated asset, then head for Googong and get ready to raise a glass in celebration.

The local pub, Gorman & Co, enjoys a 100 per cent Googong market share and is leased until 2050, with a 10-year option. It’s slap-bang in the centre of activity within the North Village shopping centre, which has 120 on-grade parking bays.

If that’s not enough, the tenant, 3 Point Hospitality, has invested $1.3 million in an exceptional fitout including multiple sports screens. The gastropub meal offerings have been getting rave reviews from the punters.

Gorman & Co has a large and enthusiastic social media and local following and provides an upmarket atmosphere with an extensive range of tap beers and live music options.

The outdoor area also has electronic cafe blinds and strip heating, delivering an all-year-round venue with full bifold doors.

James Baker of Burgess Rawson Canberra says opportunities like this are rare.

“It’s not often you have a chance to acquire an asset that offers an affordable buy-in price with such attractive lease terms,” he says.

“On top of that, add depreciation benefits, a built-in three per cent annual rent increase and the tenant pays all outgoings.”

Net rent is estimated at $127,000 per annum.

Googong

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Price guide: $2.4 million

Auction: 11am, December 14 (Sydney)

Agent: Burgess Rawson Canberra, James Baker 0421 863 040