28 Montague Street Balmain NSW 2041

The property is offered mostly vacant possesion with one small short term tenancy who may like to stay longer if made available. Currently paying $2000pcm on a month to month lease. Previous Income $361,290 nett GST - vacated 01/03/05. Outgoings $51,658.03 from 01/07/03 - 30/06/04.

The building is timeless & the heritage feel will always attract strong interest from businesses looking to relocate. The previous rental return is still healthy for what has been a depressed market & we believe this property will always be attractive to tenants as a whole or in parts. For the astute investor the income & capital growth will always be strong. Long term redevelopement and/or strata only makes this more attractive. For the owner occupier the property provides the ooportunity to grow into the space by leasing out seperate areas or, if the building becomes to small, develop further space on the roof (Subject to council approval). For the developer the ooportunity to starta & sell is certainly very real, with relatively minimal work. Should you wish to furtehr develop, even as a staged process, we believe it could be possible, making the project look even better. Should you redevelop the roof, particularlya s residential, you will capitalize on one of the best city view vantage points in Balmain. This icon property has potential for short or longterm development. We believe 28 Montague Street has to be one of the best real estate opportunities in the market place.