Shop 1/263 Clarence Street, SYDNEY NSW 2000

This ground level retail shop is conveniently located in the heart of Sydney’s CBD close to Town Hall and Queen Victoria Building. Total strata area is 150 sqm including a covered forecourt for alfresco dining.  
 
It is currently leased to a well-established café/restaurant on a 5-year lease expiring October 2012. The lessee has two 5-year options to renew the lease subject to market rental review. Annual rent increase is 4% and the lessee pays for the increase in outgoings from the base year of June 2004.  
 
The current gross rent is $116,779.70 per annum + GST. After deducting all outgoings, the net rental income is approximately $95,960 per annum + GST.  
 
This is an excellent opportunity to own this CBD ground level retail investment with street front exposure and steady rental income.  
 
Auction  
Thursday, 18 March 2010 10:30AM  
The Grace Hotel, 77 York Street Sydney  
 
Outgoings per annum (approx):  
Strata Levies: $30,326.52  
Council Rates: $2,159.16  
Water Rates: $909.40  
 
Contact: Raymond Hung 0419 223 895