26 Pitt Street Mortdale NSW 2223

Gunning Real Estate is pleased to present this freehold property in the heart of Mortdale's commercial district. Tenanted by an established restaurant with a new 6 + 6 year lease, the property offers secure income stream along with future building upside (S.T.C.A).

LOCATION:
Mortdale is a thriving suburb in the St George area of Sydney, known for its strong community atmosphere and diverse range of businesses. Situated just 2 minutes' walk from Mortdale Railway Station, the property ensures high foot traffic and easy accessibility for both customers and employees. The surrounding area features a mix of well-established retailers, cafes, and essential services including Chemist Warehouse, Subway, CBA, IGA, and so on. The suburb is experiencing ongoing development, with new commercial and residential projects enhancing its appeal.

THE TENANT:
Firehouse Grill is a family-run restaurant that has been trading since 2012, and specialises in modern Australian cuisine with a Mediterranean twist. The establishment offers a warm and inviting atmosphere, featuring rich, dark timber decor and walls adorned with firefighter memorabilia, creating a unique dining experience. The venue accommodates approximately 120 guests and offers both indoor and alfresco dining options.
- New 6 + 6 year lease from Novemebr 2024
- Current annual rent: $88,181 + GST
- CPI annual rent increase with market rent review at option

PROPERTY PARTICULARS:
- Land area: 354sqm
- Building area: 200sqm approx.
- Wide 11m street frontage
- Front covered outdoor dining area
- Spacious dining area inside with dedicated function room and covered dining lounge at the back
- Commercial kitchen with exhaust, gas, grease trap, and cool room
- Storeroom and drinks bar
- Large rear yard

LAND ZONING DETAILS:
- Zoned E1 Local Centre
- Floor space ratio: 1.5:1

For more information or inspection please contact:
William Wu
0450 250 123