The release to market of 5-15 Garema Place presents an opportunity for an investor to take a major stake in Canberra’s city centre and secure for their portfolio a fully tenanted property with outstanding potential.

“It isn’t often that multiple buildings are offered for sale in one line, as is the case with 5-15 Garema Place,” Colliers Head of Capital Markets & Investment Services ACT, Matthew Winter said.

“With 5-15 Garema Place, what a purchaser gets is four separate title blocks with significant frontage. The adjoining buildings have an NLA of 808.4m2, a multi-tenant profile, are 100 per cent tenanted, boast a strong history of occupation and currently have a WALE of 2.13 years.

“This means 5-15 Garema Place presents a range of opportunities including value-add through WALE enhancement via lease renewals, potential for owner occupancy given the shorter WALE and potential to develop a generational style asset in the centre of the CBD (subject to approvals).

“There have been limited opportunities to acquire low-rise, retail style investments within the core CBD precinct. We anticipate this asset will, thanks to its diversified tenancy mix, full occupancy and long-term upside, be highly desirable to a variety of purchaser types.

“Garema Place has long been part of the historic centre from which the city has expanded outwards. The area is now experiencing transformative works and this property is surrounded by key amenities such as the Canberra Centre, bus interchange, and major Government departments, as well as planned infrastructure projects including the London Circuit light rail extension, a 5-star luxury hotel, and a $150m office development. The ANU is close by, along with the proposed UNSW CBD campus.”

"As of late last month, it was released that the Crystalbook Collection will operate the new luxury Garema Place hotel. Works on the adjacent development is underway and set to feature a “worldclass” restaurant, 238 rooms, additional bars and restaurants, a ballroom for large events and 3 levels of basement parking.”

5-15 Garema Place is being offered for sale via an Expressions of Interest campaign closing on 30 April 2024 at 4pm (AEDT).

Four adjoining buildings in heart of Canberra’s CBD for sale - Colliers