Property ID: 18503198
Auction on Mar 01, 2018 @ 6:00 pm
This is a rare opportunity to secure a substantial and prominent mixed-use property with two street frontages within the vibrant Village of Narraweena on Sydney’s Northern Beaches. Sitting at the focal point of the Village town centre, this site is prominently positioned at the intersection of McInstosh Road, and Alfred Street.
91-93 McIntosh Road is presented for the first time since built in the 1930’s, offering a highly attractive income stream, comprising of 8 specialty shops and two first floor office suites with a total land area of 786sqm and building area of 573sqm, enjoying a consistently low vacancy rate over many years.
The investment is anchored by a prominent Liquorland store and a complementary mix of long-term, established tenants generating a net annual income of $188,769. The shops are well-presented with a modern open plan layout, high ceilings, some with roller shutter doors or storage space. A thriving local hub, capturing high-flow traffic and pedestrian exposure, comprising of a dentist, chemist, deli, Liquorland, Thai takeaway, children’s boutique, Italian takeaway, bakery, and hairdresser, this asset is sure to be a trophy in any investment portfolio.
This freehold property provides a fully leased investment offering with potential for refurbishment or future redevelopment (STCA). There is an additional benefit to the property from a development standpoint relating to the size of the land. There is a Deed showing Council will make consideration of an additional 333.6 sqm of land when determining any development application and as such any feasibility should be based on a total land area of 1,119.2 sqm.
Wonderfully versatile and highly sought after, this is a truly rare offering that will appeal to many astute investors. Opportunities like this don’t come up very often, so we urge you to review this property and inspect today.
*Total land area: 786sqm
*Total building area: 573sqm
*8 specialty shops and 2 first floor office suites
*Commanding prime corner position at McIntosh Road & Alfred Street
*Freestanding building held since the 1930’s
*Bustling community shopping centre
*Secure tenancies with consistently low vacancy
*Take advantage of multiple income streams
*Potential redevelopment opportunity (STCA)
*Established family area with consistent growth
*Easy access to Dee Why, Manly, Westfield Warringah Mall and beaches
*Net annual income: $188,769
For more information or to arrange an inspection contact Vincent West 0403 444 000.
Narraweena is located on Sydney’s Northern Beaches, only a short walk from Dee Why which is going through a huge modern transformation. Westfield Warringah Mall is on the doorstep and has just been through a complete refurbishment, and the new Northern Beaches Hospital is being built only 10 mins up the road. There have also been major improvements in transport with the introduction of the new fleet of B-Line double-decker buses, providing frequent and reliable bus services between the northern beaches and the city via the lower north shore.
|Building / Floor Area||573 sqm|
|Land Area||786.0 sqm|
|Outgoings||$30,045.00 per annum|
|Zoning||B1 Neighbourhood Centre|
Raine & Horne Commercial knows local and regional property markets intimately, with the support and systems of a long-established national and international property group. Our clients benefit from our network strength, which allows substantial cross-flow of international referral, advice and investment.