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199 Coogee Bay Road
Coogee NSW 2034
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Sold on 25 May 2021

199 Coogee Bay Road Coogee NSW 2034

  • Offices
  • 585 m²
  • Sold

SECURE INVESTMENT WITH HIGH EXPOSURE

  • Brand New Triple Net Lease
  • Leased to CBA, tenant of 36 years
  • Corner location of Coogee's retail strip

CBRE, as the exclusive sales agent, is pleased to present 199 Coogee Bay Road, Coogee. This property Is a two storey retail freehold building occupying a prominent corner position on Coogee Bay Road and Brook Street. 199 Coogee Bay Road offers a generous 407sqm* land offering just 250m* from the renowned Coogee Beach. Positioned on the corner of Coogee's main thoroughfare, the property benefits from a high level of exposure through its large volume of foot and vehicular traffic. The North-East aspect of 199 Coogee Bay Road allows the property to benefit from an abundance of natural light and ventilation in a location where it will never be built out.

The property offers a secure investment, underpinned by a lease to The Commonwealth Bank of Australia (CBA), who has occupied the building for the past 36 years. A new 3 year lease with fixed increases has commenced, with all of the outgoings being paid by the tenant. With B2 Local Centre zoning and a 12m height limit governing the site, the property also benefits from future development upside (STCA).

The property benefit from the following key attributes:
- Brand new triple net lease to tenant of 36 years, The Commonwealth Bank of Australia (CBA)
- Net Income $409,450*
- Tenant pays all outgoings including land tax, water rates, council rates and property management fees
- Fixed annual increases
- GFA 585.5sqm* split across two storeys
- 250m* from Coogee Beach
- High exposure corner position benefiting from high foot and vehicular traffic
- B2 Local Centre zoning and 12m height limit, allowing for future development potential (STCA)

199 Coogee Bay Road, Coogee will sold via Public Auction on Tuesday, 25th of May 2021 at 10.30am at AuctionWORKS (live stream & online bidding available).

For more information or to request access to the due diligence room, please contact the exclusive selling agents.

*Approximate

Note: All financial figures have been provided by the Vendor. Purchasers are advised to conduct their own independent due diligence.

CBRE Sydney
CBRE Sydney
Level 21/363 George St
Sydney, NSW 2000

Property Highlights

Date Sold25 May 2021
Floor Area585 m²
Land Area407 m²
ParkingOn site parking available
Property ID2016976642
Category
Last updated  18 Mar 2024
Map for 199 Coogee Bay Road Coogee NSW 2034

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CBRE Sydney
CBRE Sydney
Level 21/363 George St
Sydney, NSW 2000

Property Highlights

Date Sold25 May 2021
Floor Area585 m²
Land Area407 m²
ParkingOn site parking available
Property ID2016976642
Category
Last updated  18 Mar 2024

Co-Agents

Henry Robertson
Henry Robertson
CBRE Sydney
Call
0420 414 580
Gemma Isgro
Gemma Isgro
CBRE Sydney
Call
0403 230 085
Nicholas Heaton
Nicholas Heaton
CBRE Sydney
Call
+61408025097

More about 199 Coogee Bay Road Coogee NSW 2034

199 Coogee Bay Road Coogee NSW 2034 is categorized as Office. It has a floor area of 585 m². The listing ID for this property is 2016976642.

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