'Set and forget' investment opportunity up for grabs in Reid

Here’s a knockout opportunity for any investor – a big space in a mixed-use development close to the CBD.

What’s more, the tenancy is secured on a long, long lease to part of a business listed on the New York Stock Exchange.

The 395-square-metre unit is sited in the Jamieson Apartments and tenanted by boxing fitness brand Rumble, part of the Exponential Fitness group, which has more than 2750 locations globally.

Not only has Rumble demonstrated its confidence in its ground-floor Reid location with a $750,000 fitout, but it has reinforced that with a 10-year lease – with a five-year option.

That adds up to over-the-horizon investor security, potentially until 2038.

James Baker of Burgess Rawson Canberra says the space represents the kind of opportunity favoured by investors.

“I’d put it in the set and forget category – it’s in a great building with a long lease to a strong international brand,” he says. “Rumble has access to a deep audience pool including Jamieson residents, those living nearby, and a huge daily commuting workforce that flows into the precinct.”

The Jamieson Apartments also effectively neighbours the proposed UNSW Canberra City campus that could bring in up to 5000 students.

Baker says the lease is further sweetened with eight car bays.

The net income is $176,255 a year plus GST and there’s a 3.75 per cent fixed annual increase.