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,
Lot/Plan No: CANB/BRAD/7/12/