FOR SALE
$675,000

6/38 Gartside Street
Wanniassa ACT 2903

Bedrooms: -
Bathrooms: -
Car spaces: 1
Floor area: 110m2
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Erindale Retail Investment

This well-located retail property in the bustling suburb of Wanniassa offers a stable income with a long-term tenant in place. With no outgoings recovered from the tenant, the property provides a predictable and hassle-free investment. The lease includes a 5-year option, ensuring continued tenancy beyond the current lease term. The rent increase scheduled for 2026 further enhances the property's future income potential.
The broad permitted usage give many potential usage for a future proof of this property. permitted usages including Retail, Take away, health facility, liquor shop, Vet hospital, Office, indoor recreation, light industry, manufacture and storage.
Lease Term: Till April 2026
Lease Option: 1x 5 Year Option
Current Rent: $42,980.00 per annum
Rent Increases: Fixed rent until 14/04/2026, then increases to $45,129.00 per annum, fixed for the next five years
Outgoings Recovered: Nil
Outgoings:
Water Rates: $747.04 per annum
Strata Levies: $6,869.39 per annum
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Property Details for 6/38 Gartside St, Wanniassa

Building Type
Commercial
Floor Size
110m2

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About Wanniassa 2903

The size of Wanniassa is approximately 5.4 square kilometres. It has 24 parks covering nearly 22.9% of total area. The population of Wanniassa in 2011 was 7,786 people. By 2016 the population was 7,525 showing a population decline of 3.4% in the area during that time. The predominant age group in Wanniassa is 60-69 years. Households in Wanniassa are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Wanniassa work in a professional occupation. In 2011, 74.4% of the homes in Wanniassa were owner-occupied compared with 76.2% in 2016.

Wanniassa has 3,232 properties. Over the last 5 years, Houses in Wanniassa have seen a 56.42% increase in median value, while Units have seen a 24.78% increase. As at 31 August 2024:

  • The median value for Houses in Wanniassa is $876,912 while the median value for Units is $493,850.
  • Houses have a median rent of $645 while Units have a median rent of $500.
There are currently 4 properties listed for sale, and 7 properties listed for rent in Wanniassa on OnTheHouse. According to CoreLogic's data, 90 properties were sold in the past 12 months in Wanniassa.

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