22/92 Northbourne Avenue, Braddon, ACT 2612

Raine & Horne Commercial Canberra are pleased to offer Unit 22 'Midnight' for sale via Expression of Interest closing Thursday 8th September 2022. Developed and built by esteemed developer, Geocon and designed by world-renowned architect, Fender Katsalidis, Midnight is located in on the prominent City Gateway site adjacent to the Elouera Street light rail stop on Northbourne Avenue. The Midnight development comprises:
• 230 high-end residential apartments
• A 200-room 5 star Marriott hotel
• 23 ground floor commercial tenancies
• A 137-space public car park (entire Basement Level 1) The 23 ground and lower ground floor commercial units comprise a range of boutique style commercial tenancies ranging from 40sqm to 130sqm with some having external frontage onto Mort Street and Northbourne Avenue and others facing into an internal atrium linked to the hotel lobby. Occupiers within these units comprise a mix of professional office users such as Australian Corporate Advisory, Geodetica, and Sulition Tech, plus a number of personal service and health operators including AJ Hair & Bridal, The Vein Institute, Boy & Co Barbers, Night Nurse Clinic and Bauerfeind. Unit 22 is a 133sqm rectangular shaped tenancy located within the open-air internal atrium adjacent to a magnificent waterfall feature flowing down from the hotel infinity pool. The property comes with a secure basement carpark and storage cage on title and is leased on the following terms:
• Tenant: Fiberpro Pty Limited (trading as Fiber Corp)
• Lease Commencement: 13th December 2021
• Lease Term: 5+5 years
• Security: 3 months cash bond
• Commencing Rent: $65,000pa
• Outgoings Liability: Tenant pays increases in outgoings over base year
• Rent Review Structure: Fixed at 3% per annum, reviewed to market at option Raine & Horne Commercial Canberra are offering the property for sale by Expressions of Interest closing Thursday 8th September 2022. For further information or to arrange an inspection, please contact the exclusive agent, Mark Nicholls of Raine & Horne Commercial Canberra.