Gold's Gym in Canberra sells for more than $4 million through Burgess Rawson

A property in Canberra fully leased to the world famous fitness chain Gold's Gym has recently sold for $4,050,000 through Burgess Rawson.

The 81 Gozzard Street, Gungahlin, ACT 2912 property was recently built in 2013 and has an area of 1,079 square metre.

The tenant is on a 10-year lease to March 2023 with further options to 2033.

The net income from the property is $314,404 pa + GST and there is a an annual 3.5 percent rental increase. The tenant pays all outgoings, as per lease.

Gungahlin is a suburb in Canberra with a projected population growth of more than 20% to over 70,000 by 2021.

The property is located within the busy town centre and surrounded by new construction of housing, Bunnings and cinema project.

The selling agent was Dean Venturato.