Ray White Commercial Sydney North in conjunction with Atlas Real Estate presents for your consideration an outstanding opportunity to obtain a mixed use investment property with development potential for the astute investor/developer to capitalise on the current market.
The property consists of a retail tenant, Cashmere Essentials, with a lease commencement of 1 September 2021 for a two year period and a residential tenant occupying the two bedroom apartment on level one. The property currently offers an attractive income stream from two tenants with a current passing income of $100,548 per annum* (gross) with the potential for substantial rental growth.
With a building size of 182.3 sqm*, the site benefits from a B2 Local Centre zoning, a Floor Space Ratio of 2.5 : 1 and a height limit of 15 metres allowing for significant future development to add value and profit (STCA).
Perfectly positioned in one of the most exclusive suburbs in Sydney, 583 Military Road, Mosman is only 8km to Sydney CBD. Mosman offers a wonderful lifestyle full of exclusive fashion retailers eateries, providers, cafes and restaurants. With its main road location, 583 Military Road is surrounded by easy access to public transport including buses and ferries which easily connects the property to Sydney CBD and Northern Beaches.
Property Highlights:
- Two Tenancies with a net income of $92,678 per annum + GST*
- Land Area - 112 sqm*
- Building Area - 182.3 sqm*
* All figures are approximate
