Level 5, Units 25 & 26/28 University Avenue, City, ACT 2601

Raine & Horne Commercial Canberra are pleased to offer Level 5, 28 University Avenue, Canberra City for sale by Expression of Interest (EOI) - a fully leased, high-quality office investment in the heart of Canberra's legal and professional precinct.

THE BUILDING

28 University Avenue is a nine-storey commercial office building occupying a prominent corner position on the western edge of Canberra's CBD. Ideally located within the legal and professional precinct, the property is bounded by University Avenue, Marcus Clarke Street, and Darwin Place. The location offers immediate access to a range of key amenities, including the Australian National University (ANU), the Law Courts, and a vibrant mix of cafés, restaurants, and professional services.

The building has recently undergone upgrades including the modernisation of both internal lifts. Each floor is fitted with male and female amenities, and the building features central air conditioning throughout. Leap & Latte Café and Ken Behrens Burgers on the the ground floor provides additional tenant amenity and daily foot traffic. Ample short and long-stay parking options are available nearby, including the City West Car Park and on-street parking directly outside the building. The property is also a short walk from the New Acton precinct and the Canberra Centre, ensuring connectivity and convenience.

Tenants at 28 University Avenue include E.D Hut, Tariru Japanese, Ramen Japanese, Sexual Health & Family Planning ACT (SHFPACT), Canberra Menopause Centre, Women With Disabilities ACT, Civic Insurance Brokers, Sheridan & Associates, Tranquill Legal, Migration and Notarial Services - Owen Harris, University Avenue Psychology, Skin by Dermatologists, Canberra Neurology, Families in Mind Psychology (Sonia Costello, Anna Huber, Liz Challis), Bolton & Co, The Home Loan Centre, Smile Sensations - General Dental Clinic & Implant Centre, Professional Visa & Education Services, Capital Settlement Services, Capability Support, Foster Johnson Family & Collaborative Lawyers, PKF Canberra - Chartered Accountants & Business Advisers, JS IAR International Media, FM88 C-Radio, Tetlow Legal - Business & Estate Lawyers, and Servegate Australia.

LEVEL 5

Level 5 comprises two strata units - Unit 25 (311sqm) and Unit 26 (219sqm) - which have been combined and leased as a single tenancy of 530sqm. The balance of Level 5 includes shared common areas such as male and female bathrooms, lift lobby, plant room, and fire stairs, which are managed and maintained by the strata. The tenancy features a modern, high-quality office fitout, including:

• Welcoming reception area

• Combination of open-plan workstations and private offices

• Meeting rooms and a large boardroom

• Two kitchens and a spacious lunchroom

• Showers & amenities

Importantly, the fitout design retains the original unit boundaries, allowing for future subdivision and leasing flexibility should the incoming owner wish to accommodate multiple tenants.

TENANT PROFILE

The tenancy is leased to Capability Support - Canberra (Cap Support Pty Ltd), an NDIS and Government funded professional services organisation providing NDIS-related support such as family support services, clinical programs, and supervised contact and changeover services.

Key Lease Details:

• Tenant: Cap Support Pty Ltd

• Lease Commencement: 1 November 2024

• Lease Term: 5+5 years

• Commencing Gross Rent: $304,720 p.a.

• Current Passing Gross Rent: $316,909 p.a.

• Annual Rent Reviews: 4% per annum, with market review at option

• FY25/26 Statutory Outgoings: $69,392 p.a.

• Net Annual Income: $247,517 p.a.

• Security: Bank Guarantee of $167,596 (equivalent to 6 months' rent including GST)

INVESTMENT HIGHLIGHTS

• Fully leased to a long-term, established tenant with strong covenant.

• 5+5 year lease term providing secure income and growth via fixed 4% annual increases.

• High-quality modern fitout offering future leasing flexibility.

• Located within Canberra's tightly held legal and professional services precinct.

• Strong tenant demand supported by proximity to ANU, Law Courts, and NewActon.

• Excellent access to public transport, parking, and amenities.

THE SALE PROCESS

Raine & Horne Commercial are offering Level 5, 28 University Avenue for sale by Expression of Interest (EOI), closing Wednesday 10th December 2025. For further information or to arrange a private inspection, please contact the exclusive agent at Raine & Horne Commercial Canberra.