Manuka Landmark Offered for Sale – First Time in Decades
Manuka, ACT – A meaningful commercial property in the heart of Manuka Shopping Precinct has hit the market for the first time in generations, presenting a rare investment opportunity in Canberra’s tightly-held inner south. The property at 19 Bougainville Street, with frontages to Bougainville Street, Palmerston Lane, and the popular ‘The Lawns‘ thoroughfare, is expected to fetch over $5 million via an Expression of Interest campaign closing on Thursday, 18 September.
The property is being marketed by Ray White Commercial’s Daniel McGrath, who confirmed the site has been in the same family’s ownership since the mid-20th century. The family is now seeking to diversify its property portfolio, leading to the sale.
“Manuka is a very tightly held area, and opportunities like this simply don’t come along often,” McGrath stated. “This is a historic location, intrinsically linked to Canberra’s early advancement.”
The property boasts a strong financial performance, generating a net annual income of $338,665. McGrath emphasized the low-risk nature of the investment, citing its multiple high-profile tenancies and established leasing history.
the location’s appeal is further bolstered by its proximity to Parliament House and the expanding government precinct in Barton, slated to accommodate a substantial increase in Commonwealth public servants in the coming years. This growth is expected to further invigorate the Manuka retail and hospitality sectors.
Manuka has undergone a recent period of regeneration, and McGrath believes the market is currently very strong.he anticipates this strength will be amplified with the completion of a new five-star hotel on the former Capitol Theater site, currently under development by the liangis Group, scheduled for next year. “It will bring more people to the precinct, especially interstate people who will contribute to the local retail and hospitality economy,” McGrath added.This sale follows Ray White Commercial’s recent transaction of four retail units totaling 318 sqm within the Manuka Village mall, which sold for $2.6 million on June 30th.
Context: Manuka’s Evolution & Significance
Manuka, originally developed in the 1920s as one of Canberra’s ‘garden suburbs’, has long been a key social and commercial hub for the city’s southside.its architecture reflects the Inter-War period, and the precinct retains a distinct village atmosphere. The Lawns, the central pedestrian thoroughfare, was designed to encourage community interaction and remains a focal point for local events.
The area experienced a period of decline in the latter half of the 20th century, but has seen significant investment and revitalization in recent decades. The arrival of high-end retailers, restaurants, and professional services has cemented Manuka’s position as a premium destination. The ongoing development in Barton, driven by government expansion, is expected to further enhance Manuka’s economic vitality, making properties like 19 Bougainville Street especially attractive to investors.
