Albany Street is one of the main roads and thoroughfares in Canberra's largest industrial / commercial suburb, Fyshwick. 5-7 Albany Street is located approximately half way down Albany Street and provides high exposure and street presence. The block is also located within view of the junctions connecting Townsville Street and Collie Street.
An L-shaped showroom / warehouse building comprising an open plan retail area at the front serviced by sufficient on grade car parking. The building also comprises a storage area at the rear which has a mezzanine level accessed via stars on both sides. Located on the ground floor of the storage area are male and female toilet facilities, a kitchenette / lunch room and a shower.
The property is currently occupied by Oz Design Furniture, who has been in occupation of the building since the mid 1980's. The current lease is due to expire 30 June 2015 (end of 2014-2015 tax year) with 50% of outgoings recoverable from tenant. The tenant has shown no intention to vacate the property upon lease expiry.
The property boasts the flowing strengths and opportunities:
- Stand alone building on its own block (no body corporate / strata fees)
- Minimal maintenance
- Leased until 30 June 2015 with 50% of outgoings recoverable from tenant
- Same tenant has been in occupation since mid 1980's
- Opportunity to subdivide into 5 smaller tenancies
- Strong demand for small strata units and detached showroom/warehouses throughout Fyshwick
The property is for Sale by Expressions of Interest (EOI) closing Thursday 22 September 2011.
For further information or to arrange an inspection, please contact Mark Nicholls of CB Richard Ellis, Canberra.