The Branx at 16 Lonsdale Street in Braddon. Photo: Supplied 25-29 Lonsdale Street, Braddon
Rent $400 to $900 per square metre, 20 square metres to 300 square metres
Braddon’s renaissance as Canberra’ hippest inner city precinct continues at the Nibu-Palko joint development on Lonsdale Street where commercial tenancies are quickly being snapped up.
Chris Antos of Laing and Simmons says the pick of the crop is a 263-square-metre space that could suit a restaurant, furniture studio or real estate office.
Rejuvenation: Nick Bulum’s new project Palko will replace the Lonsdale Street Traders in Braddon. Photo: Supplied
“The most compelling feature of this tenancy is its location on the first level of this beautiful building,” he says.
“It has a glass-enclosed staircase that overlooks Lonsdale Street. It’s like having a tenancy on it, but without having to pay for street frontage.”
Investors and tenants have been quick to snap up the retail and commercial spaces in the Nik Bulum-developed Nibu-Palko that have some 50 spaces from 20 square metres to 300 square metres. About half have already been leased.
The Egyptian-inspired Nibu. Photo: Nathan Gibson Judd Architect
“We’ve been selective in the mix of tenants to ensure diversity and balance to maximise the range of options and interest for shoppers,” Antos says.
“Aside from restaurants and cafes, there’s homewares and health and beauty-related options like skin care, hairdressers, nail salons and the like.”
There are also 47 apartments in the Nathan Gibson Judd-designed Palko that also integrates a 53-room boutique hotel.
“Nibu-Palko is really going to activate the northern part of Lonsdale Street and add to the development of Braddon as a vibrant retail, dining and entertainment precinct,”Antos says.
Meanwhile, only three commercial spaces remain in The Branx, a development at 16 Lonsdale Street that will deliver a little piece of New York’s Bronx right here in Canberra.
The mixed-use development will comprise 59 residential units and seven commercial spaces and it will rise up on the space currently occupied by the popular food truck installation, The Hamlet.
Antos says these commercial spaces would represent excellent acquisitions for both investors and owner-occupiers. The units are 90, 121 and 243 square metres in size.
“They’re set slightly above street-level like New York terrace homes, with each unit having its own stairway entrance,”Antos says.
“These features give Branx a distinctive style that will encourage fit outs for bars, restaurants or unique retail options.”
Residential unit sales will be the next milestone for the development and construction on Branx is expected to begin toward the middle of 2017.
Meanwhile, just one commercial opportunity remains in the stunning Yamaroshi building, a 145 square-metre-space with exposure to Mort Street that would suit a cafe or similar.
AGENT: Chris Antos, Laing and Simmons, 0422 837 647
INSPECT: Contact agent
who’s in the market: A range of commercial tenancies are available at Braddon’s newest developments.