110 Kent Street, SYDNEY NSW 2000
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- 23 Oct 2016
BUSINESS FREEHOLD FOR SALE - EXTREMELY RARE OPPORTUNITY FOR BUSINESS/RESIDENTIAL INVESTMENT
An extremely rare opportunity has arisen for a business/residential investment at the entrance to central Barangaroo, in the heart of Sydney's historic Rocks/Millers Point precincts. This property is only 30 metres from the "Spanish" steps that will ultimately connect the CBD to Barangaroo. The building is comprised of 110 Kent Street, the shop - and 3 Agar Steps, the residential address, all with gunbarrel, spectacular harbour views. Currently operating as a food business, the shop consists of a cafe/catering operation, incorporating seating for 35 and a large commercial kitchen. This versatile space has been run by the same owner for the past 26 years and can be sold to the property purchaser or continued to be leased.The residential section has a completely separate entrance and is currently a source of income through short-term holiday rental, yielding in excess of $80K per annum (this is only the residential return; the shop yields separately). It is fully furnished and one bedroom is air conditioned and boasts stunning Tasmanian blackbutt floors throughout. With an eat-in kitchen and breathtaking views from the spacious rooftop landing, this Victorian terrace has it all. The terrace is in the coveted corner position and only shares one wall.
The location is listed with many commercial scouts and has featured in numerous ads - yet another source of income!
The property is located next to the historic Agar Steps, providing direct access to Observatory Hill and its beautiful parklands, with arguably Sydney's best harbour views. Directly opposite the swanky Langham Hotel, this is an aspirational Sydney address that will only increase in value once Barangaroo is fully operational and the Packer casino will be a mere 5 minute stroll away. Whilst the premises is commercially zoned, it could easily be transformed in to one large residence or any other commercial business. There are over 80 years remaining on this Crown Land leasehold.
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
110 Kent Street SYDNEY