Ride into retail investment with this tenancy in Franklin

Investors who like the thought of an asset along the light rail corridor will need to get on their bikes fast.

Up for sale is this highly visible retail tenancy in the Aamira Apartments, currently leased to Cookies Cycles until this August.

The 109-square-metre space offers a shopfront location with great signage opportunities and two basement car bays.

Agent James Baker of Burgess Rawson Canberra says commercial properties on the light rail route have the best of both worlds.

“This unit is in a great location that’s both close to Gungahlin and around 12 minutes from the Canberra CBD,” he says. “The asset certainly presents an attractive opportunity for an owner-occupier looking to establish a wide variety of business types or an investor keen to re-lease on attractive terms.”

Baker says potential buyers will also be attracted to the stamp duty and GST exemptions.

“The asking price is well under the stamp duty threshold and it’s sold as a going concern with a tenant currently in place,” he says.

Current net income is about $50,000 per annum, plus GST, with the estimated annual rental income circling $60,000.

The Aamira Apartments comprise 105 apartments and five commercial spaces over four levels, complemented by basement parking. Residents and commercial occupants can access amenities, including a gym, tennis court and landscaped spaces.

Sale $760,000 - Asking Rent: $59,950 pa + GST

109/227-229 Flemington Road, Franklin ACT 2913

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