The popular Manila in Canberra and Lilong by Taste of Shanghai restaurants are still early into leases that extend into the mid-2030s and beyond, with further five-year options in the mix.
Manila in Canberra occupies 179 square metres on a 10-year lease until 2035, while Lilong takes up a large 326 square metres on a 13-year term until 2037.
Together they deliver annual net income of more than $310,000 plus GST, with 3.5 per cent annual rent increases ensuring future growth.
Guy Randell of Yield Commercial says the long lease terms demonstrate a high level of tenant confidence.
“It shows how they value this city location, and that belief is also reflected in their significant fitout investments,” he says. “These are strong assets for long-term holds.”
The property forms part of the well-established Highgate and Park Avenue mixed-use developments, which host nearly 400 apartments and offer further exposure to a daily commuting city workforce and shoppers.
Neighbours include a mix of hospitality, retail and service businesses, while the property is close to the bustling Canberra Centre.
Goulburn’s iconic Lilac City Cinema hits the market with redevelopment potential
This NSW cinema comes with popcorn, choc-tops, slushies and a big opportunity.
“Extraordinary” auction result in Curtin bucks the trend
On another slow auction weekend there was one bright spot – 21 Haines Street, Curtin.
Fully leased Dickson salon investment comes with annual rent increases
A loyal salon tenant and a prime DKSN address.
See more news from Domain in your Google search results.
The information on this website is intended to be of a general nature only and doesn't consider your objectives, financial situation or needs.
