1-3/222 City Walk, City, ACT 2601
- For Sale
- Floor Area
- 302 m²
- Tenure Type
- Vacant Possession
- Last Updated
- Mar 17, 2017
- Car Spaces
Interested in this property? Contact an Agent today
ASX Listed Bank in Central CBD Location
100% leased to Westpac Banking Corporation, trading as St George.
Westpac - 3rd largest ASX listed company with market cap of $95 billion (March 2016).
Renewed 3 year net lease from 1 February 2017 plus options to 2024.
St George has occupied these premises for approx. 26 years.
High profile 302 sqm tenancy with 3 car spaces.
Facing City Walk, a high traffic pedestrian area opposite the entrance to Canberra's largest shopping centre, in the centre of the business district and surrounded by Federal Government agencies, ACT legislative assembly, and other major banks.
Market rent value in this precinct is $1,200/sqm.
Extensive CBD development projects include a new hotel, apartments and a mixed-use development including 20,000 sqm of office space leased to ACT government for 20 years.
Tenant pays all outgoings as per lease, incl. management fees and insurance.
Attractive 3% annual rent increases.
Net income: $295,000 pa + GST.