Prime commercial investment opportunity on offer in Kingston

This is a rare investor opportunity to secure a whopping 940-square-metres of floor space in an architect-designed, contemporary building within the Kingston Foreshore precinct.

The building, on the corner of Wentworth Avenue and Cunningham Street, was designed by award-winning Architects Ring & Associates and completed in 2009.

It is currently leased to a leading accounting and business advisory firm with more than 25 years’ experience serving the Canberra market. That lease has seven years to run, plus two five-year options.

Estimated annual net rental return is $458,927 plus GST with 3 per cent annual rent increases.

The property also comes with generous basement parking for 24 vehicles, along with a 12-square-metre storeroom.

Alex Smith of Sentia Real Estate says an investor looking for a prime commercial investment opportunity in the heart of Canberra would be well-served in taking a close look.

“This is a quality building in a highly desirable, central location,” he says. “What’s more, this solid asset is secured by a long-term lease to a strong local brand.”

The building is a short stroll from the Kingston shops and the Kingston Foreshore, with its roll-call of cafes, restaurants and bars.

L2, 8/59 Wentworth Avenue, Kingston

Price guide: $7 million-$7.2 million

Agent: Sentia Real Estate, Alex Smith 0409 007 649