EXPRESSIONS OF INTEREST
All offers are to be submitted in writing by 11.00am on Friday 14 December, 2018
George Savva & Daniel Moddel of LJ Hooker Coogee are proud to present this iconic mixed use commercial building located near the heart of the tightly held and thriving retail strip of Coogee Bay. Situated on the corner of Coogee Bay Road and Melody Street this unique building is just 9 kilometers from the Sydney CBD and is being offered for the first time in 100 years.
Perfect for the investor/SMSF buyer, it presents a premium portfolio addition with a strong income stream, high rental demand, capital growth and the potential for redevelopment. This partially leased investment comprises of four prominent recently refurbished ground floor retail shops fronting busy Coogee Bay Road with approximately 170sqm of office space above with its own separate entrance, featuring a kitchen, partitioned offices, open plan area, male & female bathroom and storage and reception area all with natural light.
In a blue ribbon beachside location, ideally placed simply moments to cafes, transport and village amenities, this building will benefit from council’s refurbishment and upgrade program for Coogee Bay Road, offering diverse income potential and unbeatable position.
Property Particulars:
- Four retail ground floor shops
- 170sqm approx of office space above with dual access
- Valuable multiple parking for up to 7 cars
- Site area: 375m² approx
- Great solar access and cross ventilation
- On North East facing corner
- Potential income approximately $250,000 gross on fully let 5 tenancy basis
- Opportunity for increase floor space area and height opportunity (STCA)
- Zoned R3 Randwick Local Environmental Plan 2012
Permitted with consent
Attached dwellings; Bed and breakfast accommodation; Boarding houses; Building identification signs; Business identification signs; Business premises; Car parks; Centre-based child care facilities; Community facilities; Dual occupancies; Dwelling houses; Group homes; Home businesses; Hostels; Hotel or motel accommodation; Multi dwelling housing; Neighborhood shops; Office premises; Passenger transport facilities; Places of public worship; Recreation facilities (indoor); Recreation facilities (outdoor); Residential flat buildings; Respite day care centres; Restaurants or cafes; Roads; Semi-detached dwellings; Seniors housing; Serviced apartments; Shops
Outgoings per annum (approx):
Council $12,000
Land Tax $32,000
Water $2,500
Insurance $6,500
