FOR SALE
9 cheney place
mitchell act 2911 INFORMATION MEMORANDUM
INTRODUCING 9 CHENEY PLACE, MITCHELL Raine & Horne Commercial Canberra is pleased to offer 9 Cheney Place, Mitchell for sale, price by negotiation. The property provides a great opportunity to purchase in the heart of North Canberra’s industrial hub. There is 3351.6m2 of floorspace on offer, making this a unique opportunity in Mitchell. Featuring 537.7sqm of functional office space, this building comprises both showroom and mezzanine level. The office area features full amenities; including toilets, kitchenette, and breakout space. Adjacent to the office space is 2813.9sqm of flexible warehouse floor, including 3 entrance points and drive-through access. This property has great signage opportunities, and ample car-parking. The property has a high level of amenity in close proximity including local post office, pharmacy, petrol station and various outlets, providing every necessity at your fingertips. Located in close proximity to Flemington Road, this property is minutes from the busiest thoroughfare in North Canberra. With ample public transport and the Canberra Light Rail arriving soon, your staff and clients will have easy access to 9 Cheney Place. This property accommodates an AXICOM telecommunications tower with an income of $19,000 + GST per annum.
OPPORTUNITY IN THE HEART OF NORTH CANBERRA’S INDUSTRIAL HUB
drive-through access
two-floor display showroom
flexible floorplan
PURPOSE BUILT OFFICE BUILDING
2813.9sqm warehouse
GREAT SIGNAGE OPPORTUNITIES
3
nestled in the heart of north canberra’s industrial hub
Summary property Address
method of sale
9 Cheney Place, Mitchell ACT 2911
9 Cheney Place, Mitchell is being offered for sale, price by negotiation.
title details Block 34 Section 18 Division of Mitchell Deposited Plan No. 6469
site area 4178sqm
net lettable area 3351.6sqm
zoning IZ1: General Industry
current net passing income $400,680 + GST
projected income
(fully leased)
$486,481.60 + GST
tenancy schedule glasstech
Axicom
Annual Rental: $381,680 + GST NLA: 84% of the property = 2815.34sqm Rental p/sqm: $135 Lease Term: 5 years Lease Commencement Date: 1/10/2013 Lease Expiry: 30/9/2018 Option Period: 1 x 5 year
Annual Rental: $19,000 + GST Lease Term: 40 years Lease Commencement Date: 1/12/2016 Lease Expiry: 30/11/2056 Rent Review: 3% fixed
The tenant has notified Raine & Horne Commercial Canberra that they will not be taking the additional 5 year lease option.
projected office space Annual Rental: $85,801.60 + GST NLA: 536.26sqm Rental p/sqm: $160
5
Situated in the heart of North Canberra, Mitchell is a booming industrial hub. Mitchell provides a range of services to the ACT, including industrial, manufacturing, retail and hospitality. In close proximity to 9 Cheney Place are a wide range of cafes, bakeries, and fast-food outlets with something to suit every taste. Local post office, pharmacy, petrol station and various retail outlets provide every necessity at your fingertips. A short 3-minute drive away is the recently developed Franklin shopping precinct, composed of gyms, health & medical facilities, supermarket, liquor store and range of cafes & restaurants. Further down Flemington Road is the bustling Gungahlin Town Centre. ACTION Buses service the Mitchell area frequently, with bus stops only a short stroll from 9 Cheney Place. New to Mitchell is the development of the Canberra Metro Light Rail, with expected operations to commence early 2019. The Light Rail will stop every 5 to 15-minutes on Flemington Road, delivering passengers from Gungahlin Town Centre to the Canberra CBD, through Dickson and Northbourne Avenue.
location
• great street access • Ample customer & staff parking • 10 minutes to canberra cbd • 5 minutes to gungahlin town centre • minutes walk from public transport • canberra metro light rail development • cafes, bakeries, & fast-food outlets close-by • post office, petrol station, & pharmacy close-by
7
property details site building completion
fire services
1980’s construction with an extension performed in 2010.
Exit signage, hose reels, extinguishers, fire blankets and emergency lights.
AXICOM telecommunications A small portion of the land along the southern alignment accommodates an AXICOM telecommunications tower. The position of this structure is not considered to significantly impact the utility of the property. This tower produces an income of $19,000 + GST per annum.
facilities air-conditioning
Access points
The two-storey office, showroom and mezzanine feature ducted air-conditioning vents.
The warehouse features 4 roller door access points to three elevations, and drive-through access.
amenities Seperate male and female amenities are located on both levels of the building. Kitchen and breakout facilities are located on the upper office mezzanine area.
windows & floors The two-storey office, showroom and mezzanine feature double-glazed windows and carpeted floors. The warehouse includes concrete slab floors.
2,813.9 sqm purpose built warehouse
9
FINANCIAL The two tenants, GlassTech Australia and AXICOM, occupy 84% of the property with the first floor office space currently vacant. GlassTech have one year remaining on their lease with a 5 year option. A small portion of the land along the southern alignment accommodates an AXICOM telecommunications tower. The position of this structure is not considered to significantly impact the utility of the property. This tower produces an income of $19,000 + GST per annum.
passing rent
$400,650
car parking
included
statutory outgoings rates 2016-17
$18,972
water & sewerage
$9,612 approx
paid by glasstech paid by glasstech
Operating expenses Electricity
paid by glasstech
telephone
paid by glasstech
maintenance
$5,000
insurance
$7,000
total outgoings
paid by glasstech
net passing income
$388,650
537.7sqm office with mezzanine and showroom
11
Floor plans
13
Interested parties should submit offers to purchase by contacting the agent by post or email addressed to the agent from Raine & Horne Commercial Canberra. Offers to purchase are not required to be lodged in any prescribed form. However, as a minimum, must include the following information: 1. The name of the Interested Party, together with the Principal supporting the Interested Party and any details of the holding company or entity if the Interested Party is a subsidiary of part of that group of companies. 2. The purchase price together with the proposed deposit, settlement and any conditions of purchase, including internal and external approval processes. 3. A list of consultants including the Interested Party’s solicitors. 4. Full details of the Interested Party’s capacity to complete the transaction in a timely manner.
sales process
For more information about 9 Cheney Place, Mitchell, please contact the agent.
Frank giorgi Sales & Leasing Executive Raine & Horne Commercial Canberra P M E
| 02 6239 6888 | 0412 135 982 | fgiorgi@rhccanberra.com.au
P E W
| 02 6239 6888 | reception@rhccanberra.com.au | rhccanberra.com.au
15
FOR SALE
9 cheney place
mitchell act 2911
Frank giorgi Sales & Leasing Executive Raine & Horne Commercial Canberra P M E
| 02 6239 6888 | 0412 135 982 | fgiorgi@rhccanberra.com.au
P E W
| 02 6239 6888 | reception@rhccanberra.com.au | rhccanberra.com.au
Disclaimer The information contained in this Report is provided as a guide only; does not constitute any offer or contract or sale; and has been prepared in good faith and with due care by Raine & Horne Commercial Canberra. Interested parties should take note that the calculations and information contained in this Report are based on figures provided to Raine & Horne Commercial Canberra by outside sources and have not been independently verified by Raine & Horne Commercial Canberra. Raine & Horne Commercial Canberra does not guarantee, warrant or represent that the information contained in this advertising and marketing document is correct. Any interested parties should make their own inquiries as to the accuracy of the information as they or their legal and financial advisers see fit. We exclude all inferred or implied terms, conditions and warranties arising out of this document and any liability for loss or damage arising there from. Any projections contained in this Report represent estimates only and may be based on assumptions that may be incomplete, incorrect or erroneous. Interested parties must satisfy themselves in relation to all aspects of the Report including development potential and cost; market take up; rent levels; outgoings; and all other matters a prudent purchaser would consider relevant. The Vendor, Raine & Horne Commercial Canberra, or their employees, agents or representatives will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that a potential purchaser relies upon that is contained in this Report or any other marketing material.