This two (2) storey terrace building consists of a ground floor restaurant with existing long term tenants and a three (3) bedroom first floor flat that is vacant.
The three (3) bedroom flat needs some love and renovation to attract new tenants (or owner occupy) and once complete we estimate it could achieve a weekly rental of $430.
- Current net return $54,000 net (approx)
- Long standing popular Thai restaurant on 5 × 5 year lease
- Ground floor restaurant pays 100% of outgoings
- Potential to return $77,000 (approx) once fully let
This property is positioned in a commanding location in what is arguably Newcastle’s most popular hospitality street, renowned for it’s cafes, bars and restaurants.
Approx one (1) kilometre from the CBD and two (2) kilometres from the beach!