141/2-8 Akuna StreetCity ACT 2601
Property Details for 141/2-8 Akuna St, City
Last Listing description (March 2024)
Raine & Horne Commercial are pleased to offer this newly leased tenanted investment for sale located within a popular Canberra CBD retail arcade.
38sqm ground floor commercial unit
Clean and tidy open plan tenancy with high ceilings
Kitchen with dishwasher & space for fridge
Ability to remove the partitions to open up the space
Common toilet facilities with key access
No stamp duty or GST payable (supply of going concern)
The property has recently been leased on the following terms:
Tenant: Hellfish Pty Ltd (trading as Gather Catering Kitchen)
Lease Commencement: 1st November 2023
Lease Expiry: 7th March 2027
Option Period: 5 years
Commencing Rent: $22,000pa +GST (gross)
Rent Reviews: Fixed at 4% annually (including at exercise of option)
1st rent Review: 8th March 2024
Security: 3-Month Bank Guarantee & Director's Guarantee
Approximate Outgoings:
Rates: $4,220
Strata: $3,404
Water: $702
TOTAL: $8,327
Approximate Net Income (as at 8th March 2024): $14,553pa +GST
This property is offered for sale at $225,000 (equating to an approx net return of 6.5%).
For further information, or to arrange an inspection, please contact Mark Nicholls of Raine & Horne Commercial on 0417 239 551.
Property History for 141/2-8 Akuna St, City, ACT 2601
- 09 Feb 2024Sold for $220,000
- 15 Nov 2023Listed for Sale $225,000
- 06 Jul 2023Listed for Sale Price on Application
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About City 2601
The size of City is approximately 1.4 square kilometres. It has 8 parks covering nearly 9.9% of total area. The population of City in 2011 was 2,824 people. By 2016 the population was 4,261 showing a population growth of 50.9% in the area during that time. The predominant age group in City is 20-29 years. Households in City are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in City work in a professional occupation. In 2011, 29.9% of the homes in City were owner-occupied compared with 30% in 2016.
City has 3,284 properties. Over the last 5 years, Houses in City have seen a -6.14% decrease in median value, while Units have seen a 12.78% increase. As at 31 October 2024:
- The median value for Houses in City is $584,044 while the median value for Units is $574,883.
- Houses have a median rent of $610 while Units have a median rent of $650.
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