Retail centres Manuka Court and M Centre in Griffith listed for sale with $20 million-plus price guide

In an "extremely rare" listings, Manuka Court, a two-level shopping centre on Bougainville Street, and M Centre, a two-level retail and office building on Flinders Way, are being offered for sale.

The seller, national property investor Kador Group Holdings, will sell them together or separately and is expecting more than $20 million for the combined properties.

The two Griffith properties are Kador Group Holdings' only Canberra assets.

Together, the two properties include 34 tenancies, the majority of which are currently leased.

Prominent retailers at Manuka Court include Sheridan, Carla Zampatti, Bijoux, Momento Designs, LOrange Pattisserie, Esteem Cosmetic Surgery, the Embassy of Spain and Happy Fit Footwear.

The 18 retail and office spaces are fully occupied, producing a net passing income of about $559,000.

M Centre is currently 95 per cent occupied across its 16 tenancies.

Among them are names such as Eyecentric, Gelatissimo, Anthony Squires, Symons Phillips Lawyers, French Flair and Blue Illusion.

When fully leased, the M Centre has an annual net passing income of about $1,012,000.

The two properties have hit the market in an expressions of interest campaign, led by agencies Knight Frank and MMJ Canberra.

Knight Frank Canberra joint managing director Nathan Dunn said he expected strong investor interest in the two properties.

"This is Canberra's Toorak or Double Bay, frequently the preferred retail precinct of visiting politicians," he said.

It was "extremely rare retail opportunity" given only a few multi-tenanted retail centres had changed hands in the ACT since 2013, Mr Dunn said.

"No other significant Manuka retail asset has been sold via a public process in the past decade," he said.

MMJ Canberra's Nick George said the properties also offered opportunities for future redevelopment, providing "huge land exposure".

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The almost fully leased retail centres are a stark contrast to the fenced-off Capitol Theatre site a few streets over, where work on a long-awaited hotel development remains stalled.

Still, new retailers continue to set up shop in the Manuka shopping precinct.

Cult footwear brand FRANKIE4 will open its first Canberra store at the end of October on Franklin Street.

Meanwhile, new pan-Asian restuarant Oh No! opened its doors on Flinders Way in August.

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