Endeavour House at 1 Franklin Street in Griffith has hit the commercial property market, offering buyers and investors the opportunity to acquire a prime corner site in one of Canberra’s most prominent inner south land holdings.
The stand-alone building covers four levels of office and storage areas with a diverse mix of tenancy and a staggered expiry profile.
Currently, the asset is 100 per cent occupied with a weighted average lease expiry of 2+ years, and spans around 2,772sqm of net lettable area.
Director of Capital Markets at Colliers Matthew Winter says Endeavour House is settled in a highly desirable sub-market of Canberra and in the Capital’s most affluent and tightly held area.
“While we have always known how strong and resilient the ACT market is, the recognition of these attributes by buyers has reached new levels and we have seen unapparelled demand for assets like 1 Franklin Street,” says Mr Winter.
“What we think will particularly draw buyers is the fact that Endeavour House provides further strategic value-enhancement opportunities, whilst substantially refurbished and refreshed. Similar opportunities in the nation’s capital are limited.”
Endeavour House is being marketed by Colliers on behalf of Ethical Property Australia.
Ethical Property Australia managing director Adam Trevaskus says the completion of the climate change mural located on the building has elevated it to landmark status with locals and tenants.
“This is a prominently located building that recently enjoyed extensive media coverage when the local community was engaged in their thousands to choose the design of a new mural that artistically expressed the big issue for locals – climate change,” says Mr Trevaskus.
“Endeavour House had a great track record through COVID (with increased and diversified occupancy) and offers significant investment potential given its strong identity, high quality refurbishment, and work-life balance location next to a blue-ribbon centre.”
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