158/45 Eastlake ParadeKingston ACT 2604
Property Details for 158/45 Eastlake Pde, Kingston
Last Listing description (June 2021)
Burgess Rawson are delighted to exclusively offer for Sale by Auction this exceptional investment leased to the well known Top Cat Dry Cleaning on a 10 year Net lease.
158/45 Eastlake Parade is part of the Element Development in the ever popular retail and residential Waterfront precinct of Kingston Foreshore.
Kingston is one of the oldest and most densely populated suburbs in the nation's capital, is located a mere 4kms from Canberra's CBD, and is in close proximity to various hotels and attractions. Recently Kingston has undergone a vast amount of redevelopment with the likes of the Kingsborough Development being completed and the Kingston Arts Precinct yet to come.
Element; Developed by the notable Englobo Group, brings a mix of water front, and street side commercial tenancies as well 140 residential apartments to the shores of Lake Burley Griffin.
This exceptional asset provides a long-term investment for any keen investor.
Highlights Include:
- 10-year lease plus 2 x 10 year options to 2051
- 3% Fixed Annual Increases
- Tenant pays 100% of outgoings
- Total Area: 164 sqm
- Busy retail and residential Waterfront precinct
- Over $700,000 in fitout costs
- Zoning: CZ5 Mixed Use
Lessee: Hameed's Family Services Pty Ltd
Lease Term: 10 Years
Lease Commencement: 9th May 2021
Lease Expiry: 8th May 2031
Options: 2 x 10 Years
Net Income: $114,400 pa + GST
Property History for 158/45 Eastlake Pde, Kingston, ACT 2604
- 25 Jun 2021Sold for $1,900,000
- 20 May 2021Listed for Sale For Auction
- 15 Jan 2014Sold for $822,800
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0About Kingston 2604
The size of Kingston is approximately 1.4 square kilometres. It has 8 parks covering nearly 8.1% of total area. The population of Kingston in 2011 was 2,978 people. By 2016 the population was 4,417 showing a population growth of 48.3% in the area during that time. The predominant age group in Kingston is 20-29 years. Households in Kingston are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Kingston work in a professional occupation. In 2011, 35.3% of the homes in Kingston were owner-occupied compared with 40.2% in 2016.
Kingston has 4,992 properties. Over the last 5 years, Houses in Kingston have seen a -21.38% decrease in median value, while Units have seen a 24.54% increase. As at 31 October 2024:
- The median value for Houses in Kingston is $1,322,501 while the median value for Units is $688,314.
- Houses have a median rent of $625 while Units have a median rent of $620.
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