Hunters Hill property with restaurant and residence to be auctioned by Burgess Rawson
A combined residence and restaurant in the prestigious suburb of Hunters Hill is set to go under the hammer at Tuesday’s Burgess Rawson Sydney portfolio auction.
The property at 54 Alexandra Street includes two buildings, with the restaurant component tenanted to the restaurant Bistro 54, secured by a five-year lease to 2021 including options to extend, with fixed 3 per cent annual rental increases.
The neighbouring residence, ‘The Granary’, consists of a loft-styled three-bedroom home. Burgess Rawson is quoting a net rental income for the both properties of approximately $139,705, plus GST.
The property is located nine kilometres from the Sydney CBD. Photo: Supplied
Agents have been pitching the property as a flexible investment with potential for further upside by tapping into the demand for short-term rentals in the Sydney market.
“Properties like this do not come around often and the future opportunities are endless – the new owner could sit back and take advantage of dual incomes, [there is] potential to increase the residential income with Airbnb, occupy the residence or even consider converting the residence into two one-bedroom units subject to council approval,” Burgess Rawson selling agent Tom Doran said.
Mr Doran said that the property had received significant interest in the lead up to the auction.
“Smart investors across the eastern seaboard have been enquiring on this Hunters Hill gem, which is only nine kilometres from Sydney’s CBD, and we look forward to welcoming bids at the upcoming auction,” he said.
‘The Granary’ is a three-bedroom loft-style residence. Photo: Supplied
Other properties among the six set to go under the hammer on the day include a medical asset in Coffs Harbour, currently leased to Laverty Pathology.
Burgess Rawson selling agent Sam Horwitz said that the solid, stable nature of medical assets meant they were an increasingly popular investment option.
“Due to an ever-increasing need for healthcare-related products with an ageing population and longer life expectancy, the sector is regarded as recession resistant irrespective of local and global economic conditions,” Mr Horwitz said.
Medical assets are proving popular with investors seeking ‘recession-proof’ properties. Photo: Supplied
Another regional property scheduled for auction is a bank-leased asset in the Hunter Valley town of Kurri Kurri, which has a price guide of about the “$1 million mark” and is being offered with a five-year lease, plus options, according to Burgess Rawson.
To view the full auction lineup, head to the Burgess Rawson website.
