176 & 176A Victoria Street Potts Point NSW 2011

Rare development site with two street frontages – First time offered in 45 years - Guaranteed income while planning for a new DA.

One of the few remaining development opportunities in Potts Point, this prominent 285sqm site has previous approval for a five-level building encompassing nine apartments and a lower-level restaurant (plans available for viewing). Offered for the first in 45 years, it enjoys a prime location near iconic restaurants such as Jimmy Liks, Soho Bar and Ms G.

+ Current established restaurant tenancy
+ Guaranteed income
+ Rental yield of approx. $170,000 per annum
+ Fixed 5% increase to rent per annum
+ Existing tenant to stay while plans approved
+ Premium residential/commercial location
+ Most densely populated postcode in Sydney

Council Rates: $9,269.16 P.A Tenant pays 50% = $4,634.58
Insurance: $3,568.88 P.A Tenant pays 50% = $1,784.44
Land Tax: $18,443.10 P.A Tenant pays 50% $9,221.55
Water usage: $2,978.85 P.A Tenants pays 100%