11-13 Bougainville StreetGriffith ACT 2603
Property Details for 11-13 Bougainville St, Griffith
Last Listing description (October 2023)
MMJ Canberra and Knight Frank are pleased to jointly present 'The Manuka Portfolio', comprised of Manuka Court and the M-Centre. This is a rare opportunity to own one or two significant retail sites which offer attractive holding incomes, and are located within the prestigious Manuka retail precinct.
For sale by Expressions of Interest, Manuka Court and the M-Centre offer investors the opportunity to purchase separately, or in one line. Providing 52 separate tenancies across two assets that sit side-by-side, the Manuka portfolio provides incredible investment flexibility across a width bandwidth of capital interest.
This is an extremely rare retail opportunity, with limited multi-tenanted retail assets above $10m transacting in the ACT since 2013. No other significant Manuka retail asset has been sold via a public process in the past decade.
The key highlights of the opportunity include:
- High-profile coveted position in the Manuka Retail Precinct
- 2,753 sqm of combined site area, and 3,641 sqm of NLA
- Value-add Income opportunities through repositioning, redeveloping or reconfiguring.
- Manuka Court NOI: $565,286* per annum (when fully let) / M-Centre NOI: $1,009,022* per annum (when fully let)
- Manuka Court is currently 85% leased / M-Centre currently 95% leased
- Highly affluent catchment. Per capita income levels within the Main Trade Area are more than 80% in excess of the Australian Average
- Central Precinct in the 2603 postcode area. 2603 is the 11th wealthiest postcode in Australia and has the highest taxable income in the ACT
Manuka Court and the M-Centre will be sold by an Expressions of Interest Campaign closing 4pm 28 November 2023.
For further information, please contact the appointed agents, Nick George or Nathan Dunn.
*As at 30-September-2023
Property History for 11-13 Bougainville St, Griffith, ACT 2603
- 08 Dec 2023Sold for $7,500,000
- 30 Oct 2023Listed for Sale E.O.I.
- 07 Jun 2019Listed for Rent - Price not available
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0About 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 3,435 properties. Over the last 5 years, Houses in Griffith have seen a 46.27% increase in median value, while Units have seen a 25.13% increase. As at 31 October 2024:
- The median value for Houses in Griffith is $2,003,618 while the median value for Units is $596,958.
- Houses have a median rent of $610 while Units have a median rent of $545.
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