Commercial space at Braddon's Nibu + Palko development is available for sale. Photo: Supplied - Prime Braddon site among Petros Group portfolio of properties to hit the market
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If you’ve been awaiting an opportunity to own a slice of one of Canberra’s favourite streets, now’s your chance.
Ten commercial units will be listed for sale at Lonsdale Street’s new Palko + Nibu development on Thursday.
You’ll be able to call a wholefoods grocer, a dog groomer/accessory shop and a New York-style newsstand (complete with bagels) your neighbours. They’ve already signed on as tenants.
Developers are looking for businesses that will be the right fit for Lonsdale Street. Photo: Supplied
The units for sale are among the site’s 28 commercial offerings. The other 18 have already been leased to a diverse range of businesses.
Laing+Simmons agent Chris Antos said it was a rare opportunity as commercial space on Lonsdale Street was typically tightly held by developers and leased, rather than sold.
“This is prime retail and office space,” Mr Antos said.
Nibu + Palko. Photo: Supplied
“We haven’t seen anything like this for sale before and we’re unlikely to see commercial space of this calibre on Lonsdale Street offered again.”
The Braddon site was previously home to the Lonsdale Street Traders and the commercial space will fill the ground floor and first level beneath 71 high-end apartments.
Prospective buyers will have to fill out an intended use application as the developers are hoping to curate a group of businesses that are the right fit for the street.
“Once it’s sold you can’t impose what the owners can do with it, but we are trying to make sure that the retail mix will complement the area and this precinct in particular,” Mr Antos said.
“It was the original Lonsdale Street Traders site, so we’re looking at the boutique, unique, hipster offerings that were there and we want to bring it back to the street in a more modern, contemporary way.”
A few of the Hamlet’s current tenants will also be moving into new digs at Nibu + Palko, including KIN Gallery.
A chargrilled Mediterranean restaurant and an Asian-fusion restaurant and cocktail bar are among the other tenants.
Mr Antos said a high-end bar or a hair salon would work well in the development. A cafe that could help meet the huge demand for a Braddon brunch would also be a good fit.
Units range from 38 to 283 square metres and are priced from $400,000 to $1,698,000.
The units will hit the market on Thursday, but prospective buyers can pre-register now.
The project is on track to meet its July 1 completion date.