The investment opportunity you’ve been waiting for, this dynamic commercial freehold property delivers immediate returns along with exciting development potential for a mixed-use residential and commercial project of up to three levels (STCA).
Currently leased by the Same Operator for the Last 10 Years. The current Lease term is 4 years and an additional Option of a further 5 Years (9 years in total). The property generates a Great Rental Return Per Annum plus fixed increases plus all outgoings.
With Commercial 1 zoning, the site has previously been granted approval for an additional two story’s, with 4 x two-bedroom apartments (re-approval required to proceed).
With steady passing traffic, the highly visible site has ample parking facilities at the front and side streets and is close to public transport, schools and the beach making it strongly appealing to owner-occupiers, investors and developers in a thriving south-eastern corridor locale.
Features:
* Commercial freehold property of approx. Land 223sqm.
* Shop Front – Retail Space @110m2
* Currently tenanted for 9 years (4 + 5yr option).
* Great Rental Returns plus all outgoings paid by Tenant.
* Commercial 1 zoning and mixed use with Residential.
* Development potential to build up to three levels commercial/residential use (STCA).
* Prior approval was given for two more levels including four x 2-bedroom apartments (re-approval required to proceed).
* Ample car parking to the front plus rear laneway access.
* Neighbouring retailers include an IGA X-Press, Reece & Coffee Train coffee shop.
* Well-serviced by bus routes and walk to Seaford Train Station and beach.
* Great exposure in established area.
+ 6