Property Overview
Located in the heart of Neutral Bay village, this highly exposed retail property presents a rare opportunity for development. The site consists of dual commercial freehold terraces on a 354.1 sqm block, surrounded by thriving retail shops, bars, and restaurants.
Current Tenancy and Income
The property is currently tenanted by a well-established Japanese restaurant, which has been in operation for over 20 years, and a subtenancy to a salon on the upper level, generating a stable income of approximately $135,000 per annum.
Key Features
- Total Land Area: 354.1 sqm
- Net Lettable Area (NLA): Approx. 304 sqm
- Zoning: MU1 (Mixed Use) with a current height limit of 16 meters
- Parking: Off-street parking for 2 vehicles
- Exposure: Over 53,000 vehicles passing daily
Development Upside:
The property is zoned for mixed use (MU1), allowing for future development potential, subject to council approval (STCA). With several major developments planned for the Military Road Corridor in Neutral Bay over the next five years, this property offers significant upside potential.
Don't miss this unique chance to secure a prime commercial freehold property in a high-demand location, with strong income and future development prospects.
Expressions of Interest.
Contact Kazu for a private inspection on 0412 231 000
