506 Miller Street is located within the affluent suburb of Cammeray which offers the best of both worlds being situated within close proximity to both the Sydney and North Sydney CBD whilst reaping all of the benefits of ‘Cammeray Village’, a vibrant and eclectic area well known for its mix of popular café’s, restaurants, gourmet food stores and specialty shops.
Suites 203 & 208 comprises of two strata lots with a combined NLA of 128sqm with secure parking for 1 car. The property is currently under-rented receiving only $328/sqm Gross + GST + parking. Through our recent negotiations, on and off market, we can report that gross rentals within the building for good quality office space should be achieving between $400 - $500/sqm Gross + parking. This low rent base will provide future rental and capital growth for any disconcerting investor.
Suites 203 + 208 / 506 Miller Street are currently Leased to Actuate Accounting on a 3 + 3 + 3 year lease. Actuate also occupy Suite 202 and have demolished the inter tenancy wall to create a light filled commercial office with glass partitioned offices, meeting rooms, open plan and break out facilities.
• SIZE: 128sqm
• PARKING: 1 secure car space
• LESSEE: Actuate Accounting Pty Ltd
• LEASE TERM: 3 + 3 + 3 years
• LEASE COMMENCEMENT: 1st February 2017
• LEASE EXPIRY: 31st January 2020
• NET INCOME: $37,041.70 + GST
• UPSIDE: 3% Fixed Increases
To receive an Executive Summary or to arrange an inspection through please contact Nick Lowry on 0408 891 376.
