Shop 4 & 5/38-46 Albany Highway, St Leonards NSW 2065
- 175 m²
- For Sale, OFFERS OVER $2,700,000
MASSIVE PRICE REDUCTION – OWNER SAYS SELL NOW!!!!
- 10 + 10 YEAR LEASE
- OWNER WANTS THE PROPERTY SOLD!!!!!!!!
- A MONSTROUS 6% YIELD
Shop 4 & 5, 38-46 Albany Street, St Leonards is an exciting food & beverage / retail tenanted investment opportunity in heart of St Leonards, within close proximity to Crows Nest. Benefiting from elevated street exposure, increased foot traffic and significant signage options, Osaka Teppanyaki is a local favorite restaurant option in the immediate area. The property consists of 10 BBQ bench stations in the open plan area, reception / service bar, kitchen, cool room and preparation area as well as male, female and disabled-access bathrooms. The existing layout has proven to be highly efficient for an experienced tenant for over 12 years.
- TENANT: Osaka Teppanyaki Restaurant
- TERM: 10 + 10 year lease
- COMMENCEMENT: 23.10.2013
- SECURITY: Personal guarantees + 6 months rent as bank guarantee
- GROSS INCOME: $177,770.25 p.a. + GST
- OUTGOINGS: $15,178.53 p.a. + GST
- NET INCOME: $162,591.72 p.a. + GST
- UPSIDE: 3% annually, review to market at the exercise of option and 4% annually thereafter
St Leonards is known and receiving attention due to its vast level of development in the immediate area. With over 1,000 apartments under construction, the withdrawal of commercial stock into new residential towers, renovations to the St Leonards precinct, as well as Australia’s largest public transportation project - the Sydney Metro, all within easy walking distance. The area is transforming into a destination precinct for future generations, and includes the key characteristics of existing transport lines, introduction of the metro line, wide range of commercial industries, Royal North Shore hospital, educational and residential amenity.
To obtain an information memorandum, further property details or arrange inspection via appointment, please contact Nick Moloney on 0477 545 111.
|Floor Area||175 m²|
|Land Area||Ask Agent|
|Parking||2 x Onsite parkings|
|Building Type||Partial building|
|Annual Return||Ask Agent|
|Last updated||27 Feb 2019|