Ray White Commercial as exclusive selling agent, is pleased to present 357 Sydney Road, Balgowlah for Sale by Auction.
Perfectly positioned in one of Sydney's best lifestyle suburbs, 357 Sydney Road, Balgowlah presents as an outstanding investment opportunity. The freehold property comprises a mixed use building with four tenancies. The ground floor is occupied by the successful contemporary cafe Balgowlah Social; and a separate two bedroom apartment. The first floor comprises of a newly refurbished office suite with a reception area, three separate offices, exclusive use bathroom and kitchenette. There is also a recently refurbished very large one bedroom apartment with expansive district views. The lower ground floor has rear lane access with garaging for up to 3 cars plus a large amount of storage and a separate bathroom.
The property is located in the commercial hub of Balgowlah surrounded by cafes, restaurants and retailers and situated adjacent to Stockland Balgowlah which offers a Coles supermarket, Harbord Growers Market, Fitness First Platinum and 65 specialty stores, including a quality fresh food market, a fashion precinct and over 700 retail car parking spaces.
City buses at the front door and a few minutes to Manly including its famous beaches and ferry to the city.
The property offers huge flexibility with an estimated net income on a fully leased basis of approximately $139,128 + GST per annum*.
Property Highlights:
• Three storey mixed use retail, commercial and residential freehold building
• Rear lane access with garaging for 3 cars + storage
• Prime position on Sydney Road, Balgowlah commercial hub
• Located adjacent to Stockland Balgowlah with over 700 car spaces
• Ground Level - incorporates a retail shop tenanted by established cafe Balgowlah Social and a separate two bedroom residential apartment
• Grease trap and exhaust
• First Floor - consisting of a commercial suite with a brand new fit out and a newly renovated large one bedroom residential apartment with district views
• Basement - consists of a large garage, storage and separate bathroom
Tenancy Highlights:
• Balgowlah Social - a successful and contemporary eatery and espresso bar with a strong local following
• Gross rent $61,800 per annum + GST
• Fixed 3% annual rent increase per annum
• 3 year Lease commencing 15 June 2017 with 3 year option
• Grease Trap and Exhaust with a fully fitted commercial kitchen
• Separate male and female toilets
• 1 x 2 bedroom apartment
• 1 x 1 bedroom apartment
• 1 x 60 sqm* commercial office
• 3 car spaces + storage
*All figures are approximate
