Located in the heart of Surry Hills, Suite 5.05 at 400-412 Elizabeth Street offers an exceptional position in one of Sydney's most vibrant and connected areas. Just two minutes from Central Station, Metro, and Light Rail, this office suite ensures easy accessibility, making it highly desirable for clients, staff, and students alike. Surrounded by Surry Hills' famous mix of cafés, restaurants, and retail, this property benefits from a dynamic setting that appeals to both businesses and educational providers.
Suite 5.05 is a fully leased, purpose-built office suite that caters to the needs of educational and commercial tenants. With a newly signed, long-term lease and a well-designed interior fitout, this property provides a steady income stream and strong tenant appeal. The suite's unique 9B education approval, allowing for 96 students per shift, makes it a rare find in the educational property market. Positioned in a modern, meticulously maintained building with premium facilities, Suite 5.05 is a prime investment opportunity in a fast-growing area.
Key Features
Brand-New Lease: Leased to NOMI College with a 3-year term + 3-year renewal option, including 4% annual increases, three-month security deposit, and unlimited personal guarantee.
9B Education Approval: Rare 9B approval allows for 96 students per shift with a highly efficient space ratioideal for high-capacity education providers.
Office Space + Parking + Storage: Includes two dedicated car spaces on separate titles and a storage room for added convenience.
Purpose-Built Fitout: Designed to accommodate educational and professional needs with multiple classrooms, a welcoming reception area, and dedicated staff rooms.
Building Amenities: Seven communal meeting rooms, three lifts (one of which services as a goods lift with direct access to loading dock), modern breakout spaces, and upgraded LED directories on each floor.
Future Growth Potential: Situated near the upcoming Tech Central precinct, Surry Hills is set to become a major tech and innovation hub, driving demand and enhancing property value.
Financial Summary
Office + Storage
Tenant: NOMI College
Net Income: $240,000 per annum net + all outgoings + GST
Annual Increases: 4% annually
Lease Term: 3 Years + 3 Years
Lease Term: 01/10/24 30/09/27
Security Deposit: Three (3) months
Additional Security: Unlimited Personal Guarantee
Parking (Leased Short-Term to Separate Tenants to allow flexibility to the purchaser):
Market Rent: $500 each per month + GST + Levy
= $12,000 per annum + GST + Levy
Current Rent: $500 each per month + GST
= $12,000 per annum + GST (Parking Levy currently paid by Lessor)
Current Net Income: $246,100 + GST (Parking Levy currently paid by Lessor)
Market Net Income: $252,000 + GST
AUCTION
Date: Thursday, 12th December 2024 at 10:30am
Location: Level 5, 1 Margaret Street, Sydney or online at https://buy.realtair.com/properties/149322
For inspections, a copy of the Contract, Information Memorandum, or if you have any questions, please contact PropertyFox's exclusive agent, Lachlan Worthington on 0421 777 889.
