CBRE as the exclusive sales agents is pleased to present for the first time in 71 years 8 Belgrave Street, Manly.
Commanding a high-profile position, 8 Belgrave Street is a two storey freehold building comprising 4 shops on the ground floor and 4 office suites above, as well as basement storage.
Being located on one of the busiest streets in Manly, the property affords outstanding exposure. The ground floor of the building boasts an arcade, which pedestrians can use as a thoroughfare between Belgrave Street and Whistler Street Car Park (311 spaces). Large 12m* frontage to both Belgrave Street and Whistler Street provide significant street presence and signage opportunities (STCA). 8 Belgrave Street has a net lettable area of 491sqm*, with all of the suites currently leased, providing a passing net income of $153,562.43 per annum* with significant rental reversion opportunities.
Access to the property is possible via both Belgrave Street and Whistler Street, with the later entrance just 150m* from The Corso, one of Australia's busiest and most desirable retail strips. The B2 Local Centre zoning, 3:1 floor space ratio and 15 metre height limit of the property also offers the potential for redevelopment (STCA). Located directly opposite the property at Gilbert Park are bus services that connect Manly to the greater Northern Beaches, Chatswood, North Sydney and Sydney CBD.
This property benefits from the following key attributes:
- First time offered to market in 71 years
- Multi-tenanted commercial freehold building
- High exposure with 2 street frontages
- Net Income: $152,959 p.a* with significant rental reversion opportunities
- Moments from ferry service to Sydney CBD and bus services to greater Northern Beaches, Chatswood, North Sydney and Sydney CBD
- B2 Local Centre zoning, 3:1 FSR and 15m height limit allowing for development upside (STCA)
8 Belgrave Street, Manly will be sold via Auction on Tuesday, 1 June 2021 at 10:30am at AuctionWORKS (Online Bidding Available).
For more information or to request access to the due diligence room, please contact the exclusive selling agents.
*Approximate
Note: All financial figures have been provided by the Vendor. Purchasers are advised to conduct their own independent due diligence.
