Ray White Commercial Sydney North as exclusive selling Agent is delighted to present this prime Early Education asset located at 139 Holt Avenue, Cremorne.
Positioned just metres from the intersection of Military Road and Holt Avenue this commercial property is conveniently located and is a rare opportunity to invest in a free standing commercial building in the heart of Cremorne, with excellent future development potential.
The property enjoys a generous B4 Mixed Use Zoning with a 16 metre height limit. Under the current planning controls there is the future ability to add significant value to this property with potential for a 5 storey Mixed Use development subject to Council Approval.
The premises is leased by CYC Group Pty Ltd trading as Little Sprouts Early Education Cremorne who have been successfully trading from the property since 2012. The tenant has undertaken an extensive custom fitout. The current gross income is $116,524.85 per annum + GST. The initial lease commencement was 1 October 2012 with the tenant now part way through the second 5 year lease term with one further 5 year option.
The property has a land area of 445 sqm* a generous building area of 230 sqm* and includes two car spaces. Centrally located in close proximity to iconic and long standing retailers including McDonald's, Sushi Train, Cremorne Orpheum Cinema, Fanuli Furniture and North Shore BMW.
This is a fantastic opportunity to acquire a free standing investment property with excellent development upside on Sydney's lower north shore.
Property highlights:
• Land area 445 sqm*
• Building area 230 sqm*
• 2 x car spaces
• Free standing building
• B4 mixed use zoning
• Successful Early Education Tenant
• 5 year lease commenced 1 October 2012
• 2 x 5 year options
• Current gross income $116,524.85 per annum + GST
• Surrounded by leading retailers
• Approximately 200 metres* to the B-line bus stop
*all figures are approximate
Sale by Public Auction:
Thursday 22nd October 2020 at 5:00pm
Ray White House, 102 Glover Street, Mosman, NSW 2088
For further information please contact Scott Stephens or Tim Abbott (02) 9969 1500
