SOLD
Sold on 27 Jun 2024 for $8,500,000

1-7 Franklin Street
Griffith ACT 2603

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 3084m2
Land area: 1010m2
Save

Property Details for 1-7 Franklin St, Griffith

Building Type
Commercial
Floor Size
3084m2
Land Size
1010m2
Local Government
Canberra Central
Lot/Plan
GRIFFITH: Block 2, Section 40

Last Listing description (October 2023)

Endeavour House, 1 Franklin Street, Griffith provides purchasers with one of the ACT's most recognisable office investment opportunities. Positioned on a landmark corner site of 1,011m with triple-street frontage, the asset enjoys a superb blue-ribbon location surrounded by numerous amenities as well as providing potential for future revenue opportunities^.

Situated next to the centre of Manuka village in Griffith, the building's prominence is guaranteed. Overlooking Manuka Oval, and closely positioned to the Parliamentary precinct (the ACT's tightest leasing market), the location supports a work/life balance and the on-going demand for high quality commercial and retail space. The recently added mural is a landmark for both the local community and for thousands of daily commuters, giving the property a strong identity and a sense of purpose that contributes to the area.

Developed in the 1960's, the ~2,700m office asset has seen design and environmental upgrades and is occupied by a variety of government funded and national anchor tenants. The current short-term WALE and diversified tenancy mix provides purchasers with immediate value-enhancing prospects, as well as possible redevelopment scenarios^.

^Subject to approvals

Property History for 1-7 Franklin St, Griffith, ACT 2603

A timeline of how this property has performed in the market
Last Sold
$8,500,000
27 Jun 2024
Listed for Rent
$3.42k/w
02 Jul 2021
  • 27 Jun 2024
    Sold for $8,500,000
  • 09 Mar 2023
    Transferred
  • 11 Oct 2022
    Listed for Sale $11,000,000
Sign in to see more transactions

Commute Calculator

About Griffith 2603

The size of Griffith is approximately 2.8 square kilometres. It has 19 parks covering nearly 18.3% of total area. The population of Griffith in 2011 was 3,899 people. By 2016 the population was 4,571 showing a population growth of 17.2% in the area during that time. The predominant age group in Griffith is 20-29 years. Households in Griffith are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Griffith work in a professional occupation. In 2011, 52.2% of the homes in Griffith were owner-occupied compared with 53% in 2016.

Griffith has 3,487 properties. Over the last 5 years, Houses in Griffith have seen a 32.57% increase in median value, while Units have seen a 22.44% increase. As at 30 November 2024:

  • The median value for Houses in Griffith is $1,875,940 while the median value for Units is $587,496.
  • Houses have a median rent of $630 while Units have a median rent of $548.
There are currently 15 properties listed for sale, and 13 properties listed for rent in Griffith on OnTheHouse. According to CoreLogic's data, 140 properties were sold in the past 12 months in Griffith.

Suburb Insights for Griffith 2603

Market Insights
Griffith Trends for Houses
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.


Median Value over 1 year
Griffith Trends for Units
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.


Median Value over 1 year
Neighbourhood Insights
Age
Household
Occupancy
No data to show
Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.