2-6 Bowes Street, Phillip, ACT 2606

Offices

For Sale Please contact agent

  • Property ID: 398304
  • Floor Area: 12376m²
  • Land Area: 4400m²
  • Occupancy: Vacant
  • NBN Availability: Service Available - Fibre to the building (FTTB)
Long WALE office asset with AAA rated income profile

Colliers and CBRE are delighted to present 2-6 Bowes Street Phillip, one of the ACT’s best long WALE opportunities providing a secure, AAA-rated income stream with compelling returns. For sale via expressions of interest the asset features the following attributes:
- AAA Rated Lease Covenants - 2-6 Bowes Street serves as the headquarters for the ACT Government’s Department of Health (a AAA-rated tenant by Standard & Poors) and is also occupied by the Commonwealth of Australia.
- Secure Long-Term Tenure With Fixed Annual Rental Increases - The ACT Government is in a first-generation lease having committed to an initial term of 15 years plus 2 x 5 options with 3.5% fixed annual rent reviews until 2032.
- Strategic Location - Health Precinct – The property occupies a prime position in the Woden Town Centre, Canberra’s recognised health hub and geographic centre of the ACT.
- Major Infrastructure Programs with Significant Upside Potential - Transformative infrastructure works are already underway in the Town Centre.
- A-Grade Office Accommodation and Best-In-Class Sustainability Credentials - A significant refurbishment program was undertaken between 2016-2017, leading to a substantially improved NABERS performance of 5.5-stars (current).
- Limited Future CAPEX Requirements - Total expenditure on building improvements has exceeded $15 million, ensuring limited future CAPEX requirements.
- Resilient Canberra Office Market - Canberra has one of the highest levels of staff office occupancies and lowest unemployment rates (3.5%)*in Australia, offering a safe-haven for investors and a market that has continued to provide resilience, most recently through COVID-19.
A 100% Interest in 2-6 Bowes Street, Phillip is offered For Sale via an International Expressions of Interest closing 4:00pm (AEDT), Thursday 21st October 2021.

Phillip Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial --- $250 ---
Retail $5802 $301 5.19%
Offices $4876 $353 7.24%
This is the average advertised price, rent and yield for Phillip, ACT 2606*
* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list their properties on Commercial Property Guide.

Property Detail Notes:

  • NBN Availability - Where this address stands within the nbn™ rollout. Possible statuses: Not currently available, Build preparation, Build commenced, or Service Available. Information provided by nbn™.
  • 3rd Party Content - The information displayed on this page is supplied by registered real estate agents and other third parties. For questions regarding the information that appears here please contact the agent that is listed.
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