18/19 Eastlake ParadeKingston ACT 2604
Property Details for 18/19 Eastlake Pde, Kingston
Last Listing description (March 2023)
Belle Property Commercial Canberra are pleased to present to market 18/19 Eastlake Parade, Kingston. Currently leased to multi award-winning restaurant, Morks, this Thai casual/fine-dining offering is one of the ACT's most widely recognised and well-loved establishments.
Offering absolute waterfront dining, Morks sits on the Southern shores of Lake Burley Griffin in a bustling precinct of bars, eateries and cafes. Located only 4 kms from Capital Hill, the Canberra CBD and the Airport, it is an oft-frequented haunt of the business and political elite.
The property offers the following highlights for investors:
- 5 + 5 year Lease to 2 February 2028 (if Option exercised, expiry 2033)
- Fixed 4% annual rent increases
- Morks: One of Canberra's finest restaurants. "Hatted" by both Sydney Morning Herald and Australian Good Food Guide
- 149 sqm with 40 sqm dedicated, undercover outdoor seating area on Title
- Part of one of Canberra's most exciting retail precincts
- Affluent main trade area, close to Parliament House, Defence Precinct and Airport
- Net income: $110,185.05 pa plus GST
Interested parties are invited to submit their expressions of interest for the purchase of 18/19 Eastlake Parade, Kingston by 4.00 pm, Thursday 23 March 2023.
Property History for 18/19 Eastlake Pde, Kingston, ACT 2604
- 22 Mar 2023Sold for $1,775,000
- 22 Feb 2023Listed for Sale For Sale by Expressions of Interest
- 22 Feb 2013Sold for $975,000
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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 5,069 properties. Over the last 5 years, Houses in Kingston have seen a 119.80% increase in median value, while Units have seen a 27.25% increase. As at 31 July 2024:
- The median value for Houses in Kingston is $1,435,167 while the median value for Units is $670,303.
- Houses have a median rent of $600 while Units have a median rent of $620.
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