25-27 Garema PlaceCity ACT 2601
Property Details for 25-27 Garema Pl, City
Last Listing description (October 2023)
PROPERTY FOR SALE (Business not included)
25 Garema Place is a 2 level retail building in the heart of the entertainment district of Canberra's CBD. The building represents a rare opportunity to secure a 100% leased asset on a 10 year lease to a well run Hospitality operator.
Surrounded by many cafe's, restaurants and retailers. The building has approximately 240m2 of net lettable area and is a generational asset for it's next owner. Some of the primary features of the building are:
Unbeatable located in the heart of Canberra CBD
100% leased until 31/12/2031
Annual net rent of approximately $108,621 per annum.
- Land area of 139m2
The building is for sale for $2m.
Please contact Andrew Smith on 0409 600 471 for more information.
Please note: This is for the sale of the property only, it does not include the business. The business is operational and continuing.
Property History for 25-27 Garema Pl, City, ACT 2601
- 06 May 2024Sold for $1,799,000
- 31 Aug 2023Listed for Sale EOI
- 04 Aug 2016Sold for $1,900,000
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0About 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 3,281 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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