Raine and Horne Commercial

ACT - Canberra Michael Ceacis of Commercial ACT says yields in the national capital are averaging around 5-7%. Despite work-from-home requirements during the lockdowns of 2020, the office market in Canberra has proven resilient, with the Federal Government leasing considerable volumes of new space that has come onto the market in recent months. In keeping with markets elsewhere, the ACT’s industrial property market has been less affected by the pandemic. Demand remains high, with limited availability of stock coming onto the market. As a guide to the health of the ACT market, 17 & 18/24 Iron Knob Street, Fyshwick, was sold for $6.7 million. The asset featured a highly sought-after covenant being an ASX listed company, and an estimated net income of $460,544pa ex GST. In addition, 6 Jenke Circuit, Kambah, a 3,283 sqm large warehouse facility on a 8,420 sqm site located in a strategically positioned pocket of the Tuggeranong Valley, sold for $3 million. The asset is 100% occupied and generates net income of approximately $300,646pa plus GST. 06 - Michael Ceacis mceacis@rhccanberra.com.au