Property Details for 55/40 Mort St, Braddon
Last Listing description (June 2021)
Burgess Rawson are delighted to exclusively offer for Sale by Auction this exceptional investment leased to an experienced 20 plus year operator, The Italian Place on a 10 year lease.
55/40 Mort Street is part of the Gallery Development in the ever popular retail and residential precinct of Braddon in Canberra's Inner North, minutes from Canberra's CBD.
Braddon is to Canberra what Lygon and Chapel Street are to Melbourne. Braddon is a hub of popular retail outlets, a stream of new and exciting developments and an eclectic mix of Canberra's best restaurants and bars. There is over $1.48 billion being spent in new and approved projects in the immediate vicinity with the likes of The Canberra Raiders relocating their head quarters to now call Braddon Home.
The Gallery was developed by Blackett Development Group, designed by the multi award winning National Architecture Firm, Cox Architecture, Built by CBS Commercial and contains 54 residential units and 2 ground floor commercial tenancies.
This exceptional asset provides a long-term investment for any keen investor.
Highlights Include:
- 10-year lease plus 10 year option to 2041
- CPI + 1% Increases
- Total Area: 269 sqm
- Busy retail, office, residential and hospitality precinct
- Near new asset with depreciation benefits
- Opposite new $200 million Midnight Hotel and Residential Development
- Steps away from Elouera Street Light Rail Terminal
- Zoning: CZ3 Services Zone
Lessee: The Italian Place Pty Ltd & The Italian Place Deli Plus Pty Ltd
Lease Term: 10 Years
Lease Commencement: 1st July 2021
Lease Expiry: 30th June 2031
Options: 1 x 10 Year
Net Income: $131,412 pa + GST
Property History for 55/40 Mort St, Braddon, ACT 2612
- 22 Jun 2021Sold for $2,340,000
- 20 May 2021Listed for Sale Auction
- 03 Dec 2019Listed for Sale Lease from $39,950 + GST - Sale $2.1 million +GST
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0About Braddon 2612
The size of Braddon is approximately 1.5 square kilometres. It has 5 parks covering nearly 15.2% of total area. The population of Braddon in 2011 was 4,556 people. By 2016 the population was 5,507 showing a population growth of 20.9% in the area during that time. The predominant age group in Braddon is 20-29 years. Households in Braddon are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Braddon work in a professional occupation. In 2011, 28.8% of the homes in Braddon were owner-occupied compared with 29.2% in 2016.
Braddon has 5,960 properties. Over the last 5 years, Houses in Braddon have seen a 26.58% increase in median value, while Units have seen a 25.94% increase. As at 31 October 2024:
- The median value for Houses in Braddon is $1,240,109 while the median value for Units is $526,227.
- Houses have a median rent of $570 while Units have a median rent of $600.
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