Exceptional location in most sought-after market Premium office in heart of Canberra’s Parliamentary precinct listed for sale, 39 Brisbane Avenue, Barton, offers an exemplary investment opportunity within Canberra’s most prestigious office precinct. Current tenants include Sprit Super and BAE Systems.

“If Canberra is currently the most sought-after market in the country, then Barton would have to be the most in-demand precinct, and 39 Brisbane Avenue must represent one of the best investment opportunites for 2022,” Colliers Director of Capital Markets, Matthew Winter, said.

“This prime office building has recently undergone a complete refurbishment and is 100 per cent leased to a diverse list of quality tenants. With 4,868.2sqm net lettable area, 39 Brisbane Avenue has a fully- leased net passing income of over $2 million. It has a 5-star NABERS Energy Base Building Rating and 5.5- star NABERS Water Base Building Rating.

“Canberra’s office vacancy rates are at their lowest level since 2008 and in terms of A-Grade office space, vacancies rates in the ACT are the lowest in Australia, which is driving net effective rental growth.

“The rental market in Barton has long been one of the tightest in the ACT. The A-Grade vacancy rate in Barton currently stands at zero per cent.

“Barton is home to a significant number of government departments and major occupiers and is adjacent to Parliament House.”

The vendor, property private equity business Quintessential Equity, said 39 Brisbane Avenue presents a tremendous opportunity for potential buyers, with CEO Russell Bullen commenting:

“We’ve future-proofed this asset, undertaking a significant regeneration program including an aesthetic upgrade and refurbishment of the ground and on-floor lobbies, bathrooms and end-of-trip facilities, painting of the façade, landscaping and mechanical regeneration.

“These works, completed in 2018, have delivered a high standard of office accommodation for the corporate, national and international tenants anchoring the building, and present an exceptional opportunity for the new owners.”

39 Brisbane Avenue, Barton is being offered for sale by way of an International Expressions of Interest (EOI) process. Prospective purchasers are invited to submit an “Expression of Interest” closing 4pm (AEDT), 10 March 2022, addressed to the exclusive agents: Matthew Winter and Paul Powderly.