- Fyshwick Markets open to EOI circa $60M
- Holds 39 unique retailers as Canberra's largest commercial precinct
- Owners will have room to expand by 1,500sqm
A rare opportunity has arisen to snap up one of Canberra’s most iconic farmer’s markets, the Fyshwick Food Markets.
The celebrated Markets are now open to Expressions of Interest with a price tag of approximately $60 million, in its campaign by selling agents Burgess Rawson.
The Markets were the first of its kind in the capital city, originating in 1967. Today, the Markets are a local favourite and tourist hotspot, earning its place as a Canberra institution.
The property, located at 36 Mildura Street in Fyshwick, boasts 39 retailers and is the largest commercial precinct in the city’s inner south at 26,580sqm.
The current retailers purvey a variety of goods including alcohol, food, and more recently via the addition of the Niche Markets wing in 2019, retail items including gifts and homewares.
Burgess Rawson Partner Billy Holderhead is confident in the property’s selling prospects both nationwide and internationally, describing the sale as a “once-in-a-lifetime opportunity”.
“This is a rare chance to secure a piece of Canberra’s history while also providing an incredible opportunity to add value.”
Billy Holderhead, Partner, Burgess Rawson
Room to expand
According to Mr Holderhead, the new owners of Fyshwick will also have opportunity to expand the Markets’ footprint by a further 1,500sqm of land.
Guy Randell, the Managing Director of Burgess Rawson ACT, believes the prime location of the Markets in Canberra’s inner south will be a point of attraction for buyers.
“The markets are just minutes’ drive to the airport; universities and private education facilities and only 5 kilometres from the Canberra CBD,” said Mr Randell.
Mr Randell also highlighted Canberra’s 33.16% expected population growth and the city’s commitment to major infrastructure updates.
“The highway upgrade will directly benefit the Fyshwick Markets. Running through Fyshwick, this project will improve connectivity and accessibility to the Markets,” added Mr Randell.
“By ticking all of these boxes, the on-going and long-term success of the markets is assured.”
Guy Randell, Managing Director Burgess Rawson
Green tick for Fyshwick
Fyshwick Markets have shown commitment to increasing the sustainability of the markets throughout their development, a move that will benefit the business throughout shifting consumer attitudes.
The carbon footprint of the markets has been substantially reduced by approximately 180 tonnes per year, due to the installation of 500 solar panels.
The Markets also introduced a 175,000-litre rainwater tank for use by retailers and bathroom facilities, as well as systems to reduce food wastage.