KM purchases Greenway essential services investment

The double storey building was renovated in 2019.

KM Property Funds has paid $9.75 million for an essential services backed investment in Canberra’s south west Greenway.

The price for Flax House at 216-228 Cowlishaw Street reflects a 7.1 per cent passing yield.

A childcare centre and medical tenancy contribute to the bulk of the income.

The recently renovated double storey, 1897 square metre building also contains offices and a café.

It spreads over a 1717 sqm site (story continues below).

JLL’s Mitchell Frail and Tim Mutton said the property supports a catchment of about 88,000.

The Weighted Average Lease Expiry is 10.2 years.

KM is Melbourne based.

The majority of Flax House’s income is derived from a childcare centre and medical facility.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of