This property represents an outstanding opportunity to acquire an exceptional investment property with future development potential set in the heart of Mosman Village.
Offered for the first time in 27 years, the property consists of a double fronted premises with two ground floor retail shops and three apartments above. This asset currently offers a healthy income stream from five tenants. Commercial tenants include exclusive national brand, Camilla and Marc as well as internationally recognised Ecco Shoes. The property has the ability to increase rental income with some minor upgrades.
Located in a bustling prime stretch of Military Road close to public transport, banks & cafes, this site is adjacent to leading retailers such as Witchery, Bed Bath N' Table, MAC and Jo Malone. Perfectly positioned in the centre of Mosman Village, the site adjoins the Mosman Council Carpark and Allan Border Oval.
Overview
- Land size of (approx.) 341sqm
- B2 Local Centre zoning with a floor space ratio of 2.5:1 and a height limit of 15 metres
- Significant future development potential to add value (STCA)
Existing Tenancies:
- Total net income of $186,519 + GST where applicable, per annum
- Fixed annual rental increases
- Retail net lettable area of approximately 159sqm over a single level layout
- Rear lane access with parking for up to 4 vehicles
- Extensive fitouts in place, basement storeroom beneath shop not currently being utilised (a further 114sqm)
- Camilla and Marc are currently on a 5 year lease expiring 31st August 2020 with a further 5 year option period | Ecco Shoes is on an expired lease
- Residential apartments are made up of 2 x 1 beds and 1 x studio, original condition throughout (one of the residential apartments has been recently vacated)
For more information please visit www.593to595militaryroad.com
Scott Stephens 0409 960 006
Tim Abbott 0425 285 833
Michael Counihan 0434 731 214
Proudly marketed by LJ Hooker Retail & Commercial and LJ Hooker Projects & Developments.
** All information contained herein is gathered from sources we consider to be reliable, however we cannot guarantee or give any warranty to the information provided.
