Wayfarer is an 88 metre high, 27-storey mixed-use development located in Belconnen Town Centre built by Canberra’s leading developer, GEOCON. Only minutes’ walk to Westfield Shopping Centre, Canberra Indoor Sports and Aquatic Centre (CISAC), multiple government department offices, the University of Canberra and Belconnen’s waterfront precinct featuring restaurants, bars, cafes around the lake. Wayfarer is also a short drive from the Australian National University (ANU), Canberra CBD and its affluent inner north suburbs.
The development comprises of four ground floor commercial tenancies at ground level with a warm office fit-out, comprising of painted plasterboard walls, electric and data points, carpet tiles, set plasterboard ceilings, downlights, and kitchenette with dishwasher and air conditioning. The tenancies have access to the common ground floor toilets and there’s a large public carpark directly next door for your clients.
* Approximately 178 square metres of floor space with 25m absolute street frontage.
* Canberra mixed-use building located lakeside Belconnen, 27 floors with 300+ apartments above.
* High ceiling – potential to add mezzanine level to increase floor space.
* Signage rights at the front of the building – see photo.
* Broad purpose clause – the property can be used for a variety of uses.
* At a purchase price of $1.1M the property yield is 6.6%.
* 3 year + lease ending 1st of September 2021 with a 1 year option to the tenant.
* 3% annual fixed rent increases.
* Rent is $80,707 + GST PA as at 1st of September 2019
* Outgoings – Quarterly body corporate levy of $1,109.37 + Land tax: $926.70.
* Net income: $72,563
* No Stamp Duty payable for commercial properties in the ACT under $1.5M.
* Near new building completed in December 2016, great depreciation benefits, roughly $15k a year. Depreciation is not affected by Federal budget changes in 2017.
* Blue chip tenant – Geocon uses it for a display suite.
* Not managed by agent – tenant pays by direct debit to landlord.
* Full access to swimming pool and building facilities.