Commercial space on long lease up for grabs in Braddon's Mode3 development

It’s hard to imagine Braddon going next-level, but that’s where it’s likely headed with something close to $1.5 billion worth of new and approved projects set to take shape in and around it over the next several years.

That translates into a tempting prospect for investors wanting to stake a claim in this buzzy mixed-use precinct with its eclectic mix of, arguably, Canberra’s hottest restaurants and bars.

The Mode3 development took an early Braddon position back in 2012. It offers 115 residential units, 3400 square metres of office space and 2400 square metres of retail.

And that’s where you’ll find this commercial investment opportunity: a big, double-unit space of 551 square metres with 20 basement car bays on title.

It’s leased by a leading engineering client who’s been firmly entrenched for 10 years – and has opted to go around the block again with another 10, with a further five-year option.

James Baker of Burgess Rawson says the asset offers attractive entry benefits to the savvy investor.

“There’s a potential stamp duty saving of up to $85,000, subject to solicitor advice, and it’s GST-free as the property is leased,” he says.

“Plus, there’s no commercial land tax payable in the ACT.”

The property returns a net income of $277,429 a year, plus GST – or about 6.9 per cent.

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