BLUE CHIP QUALITY COMMERCIAL INVESTMENT - RARELY AVAILABLE
SECURE INVESTMENT - THIS UNIQUE PROPERTY HAS BEEN CONTINUOUSLY LET FOR 17 YEARS!!! IDEAL FOR SUPER FUNDS
OPEN WEDNESDAYS 2.00 -.245PM
THIS OUTSTANDING PROPERTY IS AN ATTACHED MIXED RETAIL/COMMERCIAL BUILDING OVER TWO LEVELS WITH AN ADDITIONAL LOWER GROUND FLOOR LEVEL AT THE REAR PROVIDING UNDERCOVER AND OFF STREET PARKING. CAR PARKING FACILITIES INCLUDE 3 OFF STREET SPACES AND ONE GOODS/UNLOADING BAY (OR 4TH SPACE). THE PROPERTY WAS VIRTUALLY REBUILT IN 1992 AND CONSISTS OF CAVITY BRICK WALLS WITH CONCRETE AND TIMBER FLOORING WITH A METAL DECK ROOF. SITUATED ON THE GROUND FLOOR WITH DIRECT ACCESS FROM BLUES POINT ROAD IS A CAFE WITH INTERNAL KITCHEN AREA. THE CAFE PATRONS CAN RELAX INSIDE WITH A COSY ATMOSPHERE OR DINE OUTDOORS WHERE THE TENANT LEASES AN AREA FROM NORTH SYDNEY COUNCIL, DIRECTLY IN FRONT OF THE CAFE. THE FIRST FLOOR AIR CONDITIONED OFFICE AREAS ARE DIVIDED INTO TWO DISTINCT SECTIONS EACH BEING WELL PRESENTED THROUGHOUT HAVING CARPETED AND TILED FLOOR FINISHES. THERE ARE 2 BALCONIES UPSTAIRS. THERE IS ALSO AN ADDITIONAL KITCHENETTE FACILITY AVAILABLE ON THIS LEVEL. LOWER GROUND FLOOR FACILITIES INCLUDE 4 MALE/FEMALE TOILETS AND 2 LARGE AND ONE SMALLER STOREROOM.
CALL FOR A FULL INVESTMENT REPORT
ATTRIBUTES
THE PROPERTY IS SURROUNDED BY QUALITY RESTAURANTS AND COFFEE SHOPS WHICH ATTRACT EXCELLENT PASSING TRADE. NORTH SYDNEY BUSINESS CENTRE IS CLOSE BY AND BUSINESS PEOPLE ENJOY THE MCMAHONS POINT SHOPS AT LUNCH TIME AND AFTER WORK. LOCALS ALSO STRONGLY SUPPORT THE COFFEE SHOPS AND RESTAURANTS. THE PROPERTY WAS REBUILT IN 1992 AND IS THEREFORE IN EXCELLENT CONDITION.
DUE TO THE LACK OF AVAILABLE SPACE IN THE SHOPPING STRIP, THE DEMAND FOR SHOPS IS ALWAYS HIGH AND VACANCIES RARE. THIS PROPERTY HAS NOT BEEN WITHOUT A TENANT SINCE THE REBUILD 17 YEARS AGO.
TENANCY DETAILS
GROUND FLOOR
BILLI'S CAFE - LEASE EXPIRES 30/6/2012
THE CAFE HAS ALREADY APPROACHED THE OWNER FOR A NEW LEASE.
FIRST FLOOR
OFFICE SUITES
THIS IS NOW UNDER LEASE UNTIL 10 APRIL, 2013 WITH A 3 YEAR OPTION.
AREA
GROUND FLOOR - 117SQM
FIRST FLOOR - 109SQM
LOWER GROUND FLOOR - 30SQM
PARKING - 58SQM
TOTAL - 314SQM
OUTGOINGS
WATER - $1,922.00 P/A
COUNCIL - $4,204.60 P/A
INSURANCE - $5,211.63 P/A
LAND TAX - $5,278.25 P/A
TENANTS PAY MOST OF THE ABOVE COSTS AND THE OWNER CONTRIBUTES APPROXIMATELY $2,800.00 P/A.
GROSS RENTALS
SHOP - $ 88,984.56 + GST
OFFICE - $ 47,856.84 + GST
TOTAL - $136,841.40 + GST
AUCTION : TUEDAY 2ND MARCH 2010 AT 10.30AM AT 55 HARRINGTON ST, THE ROCKS
Lot/Plan No: 1/DP198680