SOLD
Sold on 06 May 2024 for $1,799,000

25-27 Garema Place
City ACT 2601

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 235m2
Land area: 139m2
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Property Details for 25-27 Garema Pl, City

Building Type
Commercial
Floor Size
235m2
Land Size
139m2
Local Government
Canberra Central
Lot/Plan
CITY: Block 20, Section 35

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.

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Property History for 25-27 Garema Pl, City, ACT 2601

A timeline of how this property has performed in the market
Last Sold
$1,799,000
06 May 2024
Listed for Rent
04 Dec 2012
  • 06 May 2024
    Sold for $1,799,000
  • 31 Aug 2023
    Listed for Sale EOI
  • 04 Aug 2016
    Sold for $1,900,000
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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 3,318 properties. Over the last 5 years, Houses in City have seen a -3.37% decrease in median value, while Units have seen a 17.15% increase. As at 31 August 2024:

  • The median value for Houses in City is $709,333 while the median value for Units is $584,313.
  • Houses have a median rent of $615 while Units have a median rent of $645.
There are currently 44 properties listed for sale, and 38 properties listed for rent in City on OnTheHouse. According to CoreLogic's data, 139 properties were sold in the past 12 months in City.

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