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An iconic retail building that is home to Dee Why Florist, a Northern Beaches small business institution for over 60 years, has sold at auction recently for a stunning $4.5 million.

Owner G.N. Pappas Holdings Pty Ltd has sold the free-standing building at 10 Fisher Road in Dee Why, which also contains a popular café, hairdresser, minimart, and butcher. In fact, the building has a mix of five shops and ten office tenancies providing a reliable and regular income.

The 853 square metre building, built in the 1950s, is known as Dan’s Corner and has been tightly held by Pappas family since 1980.

A private investor from the Northern Beaches acquired the building, and he has plans to retain the building as a tenanted investment, noted selling agent, Vincent West Director of Raine & Horne Commercial Northern Beaches.

Superbly positioned in the highly sought-after Dee Why commercial precinct, the property has a lettable area of 679 square metres. It also fronts Fisher Road and Redman Plaza, which is currently enjoying a significant facelift.

Vincent explains, “The improvements to the plaza include an elevated lighting structure that will enhance its ambiance at night, along with hanging gardens, seating and an attractive water feature, providing an inviting, pleasant area to shop and work.

“The upgrades will increase the charm of the newly developed plaza area and will be sure to deliver excellent long-term income and growth returns to the new owner of 10 Fisher Road.”

View more Raine & Horne Commercial Northern Beaches properties for sale or lease or call us on 02 9939 6788.