CBRE Australian Healthcare & Social Infrastructure is pleased to exclusively present for sale, 15-19 Parraween Street, Cremorne
An extremely rare opportunity to acquire a mixed-use land holding of 874sqm, bolstered by a long-term lease to Only About Children for a remaining term of 15* years plus options. Located within Sydney's thriving North Shore, Cremorne is an established and tightly held residential precinct, underpinned by strong occupier and user demand and significant land value growth. The Asset also benefits from significant long-term value-add opportunities with the ability to capitalise on the site's prime location and mixed-use zoning.
The Asset is offered for sale via International Expressions of Interest closing Thursday 8th August 2024 at 2:00pm (AEST).
+ Favourable Mixed-Use Zoning with underlying land area of 874sqm* and notable long-term capital appreciation prospects within one of Sydney's most desirable suburbs
+ The ultimate land bank with long-term redevelopment, repositioning or value-add potential across residential and commercial uses, with adjoining development precedent for up to 5 levels* (STCA)
+ Annual Net Income of $866,826* and outgoings with fixed 3% annual reviews
+ No land tax payable maximising return on investment
+ Modern improvements with a building area of 1,078sqm*and impeccable maintenance history
+Substantial depreciation benefits over the first 5 years of ownership significantly increasing return on investment
+ Double Net lease to Global Operator, Only About Children within one of Australia's most affluent suburbs
+ Long-term 25 year lease with 2 terms of 10 Years to 2058, providing long-term income security with Market Rent Reviews at commencement of Option Period's
LOCATION
+ Land rich opportunity within one of Australia's most sought after suburbs featuring a median income of more than double the national average
+ Less than 1.4km* to Mossman a top 10 Australian suburb with median house price that is more than 3x the NSW average and over 5x greater than the countries national average
+ Exceptional capital appreciation prospects Cremorne's median house price has increased by 72% since 2014
+ Positioned within walking distance of Neutral Bay Public School (900m*) and Redlands Junior Campus (550m*) while also providing immediate access to Cloud smart School (750m*), Middle Harbour Public School (1.0km) and Sacred Heart Catholic Primary School (1.1km*).
+ Close proximity to retail and hospitality amenity, including Cremorne Plaza (140m*), Woolworths Neutral Bay (600m*), Big Bear Shopping Centre (1.3km*), Sydney CBD (8km*) and North Sydney CBD (3km*)
+ Well connected to public transport amenity with numerous bus routes available within 100m* of the subject property, Victoria Cross Railway Station (3km*), Military Road (0.1km*) and Warringah Freeway (0.9km*)
TO BE SOLD VIA INTERNATIONAL EXPRESSIONS OF INTEREST CLOSING THURSDAY 8th AUGUST 2024 at 2:00PM (AEST)
For further information, please contact the exclusive sales and marketing agents:
Marcello Caspani-Muto
+61 417 065 777
Marcello.Caspani-Muto@cbre.com.au
Sandro Peluso
+61 418 389 757
Sandro.peluso@cbre.com
Jimmy Tat
+61 439 399 118
Jimmy.tat@cbre.com
Toby Silk
+61 422 143 813
Toby.Silk@cbre.com
Angus Beevers
+61 431 744 830
angus.beevers@cbre.com
approx*
