RWC Sydney North and Ray White Lower North Shore Projects & Developments are proud to present 696, 700 & 706 Military Road, Mosman for sale by Expression of Interest.
These properties offer a rare once-in-a-lifetime opportunity to secure three individual lots in one line in an incredible location, positioned on the premier retail strip of Mosman Village with outstanding redevelopment potential.
Spanning an impressive 1,286 sqm* of land, the sites currently comprise a mix of retail, commercial, and residential tenancies, as well as 26 car spaces. With approximately 1,067 sqm* of commercial and retail tenancies and 9 two-bedroom apartments. With 22 Retail and commercial tenants with varying lease expiry dates (currently 2 vacancies) and 9 residential tenants, also on varying expiry dates.
These prominent buildings in a high-profile location afford outstanding exposure with over 36m* of frontage to Military Road and are surrounded by long standing and high-profile retailers and service providers. Access to the property is possible from both Military Road and Horsnell Lane which provides both pedestrian and vehicular traffic to the properties.
The property presents as an incredible opportunity for investors or developers who wish to maximise the potential of the site, given the existing under development. The E1: Local Centre Zoning, 15m height limit and 2.5:1 FSR offering future redevelopment upside (STCA). The property also sits within Area 2 (Spit Junction) which allows Floor Space Ratio Incentives of an additional 0.5:1 subject to Council Approval (STCA).
With its main road location, 696, 700 & 706 Military Road are surrounded by easy access to public transport including buses and ferries which easily connect the property to Sydney CBD and Northern Beaches.
The site has a Combined Estimated Gross Income of approximately $1,016,299 per annum + GST* on a fully leased basis.
The property is offered for Sale via Expressions of Interest closing 5:00 pm Wednesday 13th March 2024.
Site Highlights:
• Land Area: 1,286 sqm*
• Net Lettable Area: 1,848 sqm* approximately including retail, commercial & residential tenancies
• Over 36m* frontage to Military Road
• 15m height limit
• 2.5:1 Floor Space Ratio
• Floor Space Ratio Incentive of 0.5:1 STCA - Area 2 (Spit Junction) given the Land Area.
• Estimated Gross Income of $1,016,299 per annum + GST* on a fully leased basis
• Rear lane access to Horsnell Lane
• Substantial development potential for a mixed-use retail / residential project (STCA)
• Mosman is one of Australia's most affluent suburbs, with strong demand for retail and commercial property
*All figures are approximate
For further information or to arrange an inspection please contact:
Scott Stephens | 0434 341 001
scott.stephens@raywhite.com
Tim Abbott | 0425 285 833
tim.abbott@raywhite.com
