Located in a prime Canberra CBD location 10 Hobart Place for sale presents a compelling investment. Colliers Director Capital Markets and Investment Services Matthew Winter and JLL Managing Director ACT Andrew Balzanelli have been appointed to handle the sale.
Located in a prime Canberra CBD location 10 Hobart Place for sale presents a compelling investment. Colliers Director Capital Markets and Investment Services Matthew Winter and JLL Managing Director ACT Andrew Balzanelli have been appointed to handle the sale.
Colliers Director Capital Markets and Investment Services, Matthew Winter said, “10 Hobart Place is located in the highly regarded City West precinct of Civic. This is unarguably Canberra’s most popular tenant location. It’s release to market provides an exceptional opportunity to capitalise on the strong occupational market fundamentals of the ACT.”
The 4,483m2 NLA building is located on a prominent 668m2 city centre site.
“This property has a long-term history of occupation by a broad variety of SME tenants,”
Mr Winter explained. “It has a highly diversified and defensive income profile with leases progressively staggered to remove significant vacancy risk. Offering 94 per cent occupancy and, as at July 2021, a 3.1-year WALE by area and net passing income when fully let of more than $1.3 million, we expect 10 Hobart Place to be attractive to investors.”
Extensive upgrades and refurbishments carried out since 2014 have seen the building completely repositioned to offer low ongoing capex and strong leasing uptake.
“With its proximity to Canberra’s light rail, the City West bus interchange, the 1,344 bay City West car park and Canberra’s interlinking cycleways, accessibility is a major feature of 10 Hobart Place,” JLL Managing Director ACT, Andrew Balzanelli said. “Surrounded by premium hotels, contemporary cafes, award-winning restaurants, and some of the city’s most popular retailers, occupants of 10 Hobart Place benefit from first class amenities.”
The property is offered for sale via an Expressions of Interest campaign closing on Thursday, 27 May 2021 at 3pm (AEST).
To request a copy of the Information Memorandum please contact one of the marketing agents via the contact form below.