216 Northbourne Avenue,
Braddon, ACT 2612

216 Northbourne Avenue is situated in Braddon which is a predominately residential and commercial area immediately adjacent to the northern side of the Canberra City Centre. It is currently undergoing a dramatic transformation into a hi-density living space with an increasing variety of high and middle end eateries and bars.

216 Northbourne Avenue is a three (3) storey commercial office building with on-grade parking for 96 vehicles accessed either by Northbourne Avenue or Lowanna Street. It is currently partly leased to three tenants and has an estimated net income of $920,000 per annum when fully leased.

Braddon has long been constrained by town planning but a recent variation to the allowable height levels in the Braddon area has seen a boom in residential infill, drawn by the easy pedestrian access to the Bunda Street nightlife, food markets, and fashion shops of the Canberra Centre, on the northern edge of the CBD.
As a result Braddon is increasingly picking up the character of Melbourne’s St Kilda Road, or Sydney’s Newtown, and becoming an exciting and cosmopolitan address, particularly for young professionals.

The Crown Lease allows for use as, office; motel; residential and serviced apartments. This property is a significant land bank holding with an underpinning cash flow in an emerging high density residential precinct close to the Canberra CBD.

This is an appealing opportunity and Colliers International recommends it as both an office asset with existing tenants and as a possible future high rise residential development subject to approval.

• Office building of 3,214.5m²
• 96 on grade car parks
• Close to Canberra CBD on main thoroughfare
• Several redevelopment strategies possible subject to DA approval
• Crown Lease permits office, motel, residential and serviced apartments
• Estimated net rent of $920,000 approximately when fully leased