An ideal opportunity for the astute developer or investor to secure this prime site with DA approval to construct a 4 storey mixed use building within this popular & rapidly evolving part of Sydney.
> 797sqm site across Two titles > 19.9mt Frontage, Rear lane access > Holding income - presently returning $143,327.28 per annum from 5 tenancies > DA Approval for a 400m2 Ground floor indoor recreation facility & upper level new generation boarding house consisting of 35 boutique self-contained studios > Single Level Basement with 17 car spaces > Pre-commitment to lease the ground floor as a gymnasium at a commencing rent of $145,000 per annum net + GST on a 5 x 5year lease to a Plus Fitness franchisee > Strong anticipated yield in this popular high demand location > Estimated return on the completed development of approximately $800,000 per annum net with scope for future upside > An advantageous approval that would be difficult to replicate given changes to planning controls > Potential to explore amendments to current approval or alternate redevelopment strategies
