37/23 Challis Street, Dickson, ACT 2602

Raine & Horne Commercial Canberra are pleased to exclusively offer an entire floor (Level 3) of DKSN's 'south tower' for sale by Expression of Interest closing Wednesday, 25th March 2026. 37/23 Challis Street offers a high-quality passive commercial office investment within the award-winning DKSN mixed-use precinct in Dickson, ACT.

LOCATION

Dickson is one of Canberra's most established and vibrant inner-north group centres, combining strong commercial activity with a thriving lifestyle precinct approximately only 3km to Canberra CBD with direct access to major arterial roads, excellent public transport and cycling infrastructure and situated on the light rail route linking Canberra CBD (Civic) and Gungahlin Town Centre.

Dickson's location provides businesses with immediate access to Canberra's government, corporate and professional services ecosystem. The suburb draws from established professionals and public servants, inner-city apartment residents, students from nearby institutions, young families and long-term residents. This diverse demographic supports a stable commercial environment with sustained demand for professional office accommodation.

THE DKSN PRECINCT

Developed by esteemed developers Doma and Englobo, DKSN is a vibrant, master-planned mixed-use precinct in the heart of Dickson and positioned directly on the rail stop and bus interchange of Northbourne Avenue. DKSN is home to a diverse mix of commercial, retail and residential occupiers, including Wonderschool Childcare Centre, Canberra Imaging Group, Dickson Medical & Travel Clinic, a state-of-the-art office government office building, Club Lime & Ground Up Wellness Centre, a number of professional offices, retail shops, 'Eat Street' - a vibrant food and beverage laneway destination - and 307 residential apartments. This integrated mix of uses creates strong daily foot traffic and a dynamic working environment, reinforcing tenant demand and long-term investment appeal.

THE INVESTMENT OPPORTUNITY

Positioned on Level 3 of DKSN's 'south tower', Unit 37 is a 478sqm entire floor strata unit, with 7 allocated secure basement carparks on title, benefitting from a range of permitted uses including community use, office, health facility, recreation, shop, restaurant and more. The property is fully leased to two established tenants under NET lease structures, providing strong income security with minimal landlord outgoings. The dual-tenancy configuration enhances income diversification, while both tenants' responsibility for statutory outgoings ensures a clean NET return to the owner.

TENANCY BREAKDOWN

Area A - 236sqm:

• Tenant: Slator Pty Ltd (trading as Slaven Torline)

• Lease Commencement: 16 May 2023

• Lease Expiry: 15 May 2028 (5-year initial term)

• Lease Options: 1 X 5-year option (expiring 15 May 2033)

• Commencing Unit Rent: $115,640pa +GST

• Commencing Car Parking Rent: 4 carparks @ $2,700/bay ($10,800pa +GST)

• Rent Review Structure: Fixed at 2.5% annually, market review on exercise of option

• Total Passing Net Income (as at 16 May 2026): $136,162pa + GST

• Outgoings: Tenant pays 58.3% of statutory outgoings (NET lease based on area occupied)

Area B - 169 sqm:

• Tenant: PM Barrenjoey Pty Ltd (trading as Hussey & Hussey)

• Lease Commencement: 15 October 2023

• Lease Expiry: 14 October 2030 (7-year initial term)

• Lease Options: 2 X 5-year options (expiring 14 October 2040)

• Commencing Unit Rent: $84,500pa +GST

• Commencing Car Parking Rent: 3 carparks @ $2,500/bay ($7,500pa +GST)

• Rent Review Structure: Fixed at 4% annually, market review on exercise of option(s)

• Total Passing Net Income (as 15 October 2025): $99,507pa + GST

• Outgoings: Tenant pays 41.2% of outgoings (NET lease based on area occupied)

INVESTMENT HIGHLIGHTS

• Dual tenancies providing income diversification

• Net lease structure - tenants pay outgoings

• Total NET passing annual income of approx. $235,669pa +GST

• Positioned on the Civic-Gungahlin light rail corridor

• Integrated mixed-use precinct completed in 2020

• Strong inner-north location with CBD proximity

FURTHER INFORMATION

For further information or to arrange an inspection, please contact the exclusive agent at Raine & Horne Commercial Canberra.