Noonan Property Sydney are pleased to offer for sale Shop 6, Park Regis, 27 Park Street, Sydney.
This sale represents an outstanding opportunity to acquire a quality and versatile retail investment property in the heart of Sydney's thriving midtown precinct near Martin Place, Town Hall and Hyde Park. Importantly, this property is also positioned directly opposite the highly anticipated Gadigal Station (formerly Pitt Street Metro Station) development, which is scheduled to open in 2024. This substantial development will significantly increase foot traffic in the area once completed.
The property is offered with a new 5+5 year lease to a popular food and beverage business trading as H & H Coffee. The business retails hot and cold drinks, fresh sandwiches, wraps, rolls and an assortment of pastries. Passing rental income is $111,136.56 per annum and the lease also incorporates fixed 4% annual rental increases, two Personal Guarantees and a Bank Guarantee equivalent to 3 months rental ($30,562.55), which reinforces the strength of the tenancy.
The property comprises 31.4 sqm and forms part of the Park Regis development, a large 45-storey residential, hotel and retail building. A key feature includes the property's prime ground floor positioning with direct frontage to Park Street and an endless volume of pedestrian traffic. The premises are well presented with a functional fitout, excellent signage, high ceilings and water connectivity. The property's positioning benefits from substantial pedestrian foot traffic 24 hours per day from a mixture of nearby residents, hotel patrons and office workers in the immediate area.
The property's prime location at the junction of Castlereagh Street, Pitt Street and Park Street is exceptional, particularly in terms of its proximity to an array of designer and boutique shopping retailers, world-class restaurants and bars, sightseeing and iconic entertainment venues. This superb location will underpin the property's future income and investment potential.
The sale of this quality retail property is an exciting and compelling investment opportunity and we look forward to servicing your enquiries.
Contact Details:
Tim Noonan
0416 286 129
tim@noonanproperty.com.au
