A highly desired freestanding shop top property currently home to leading children’s educational toy retailer Kidstuff has sold within 48 hours of hitting the market for a sale price of $3.2 million.
Selling agent Anthony Bouteris, Director of Raine & Horne Commercial Sutherland Shire, said, “We are thrilled to announce the swift sale of 47 Cronulla Street, Cronulla, a highly sought-after property located in the iconic Cronulla Mall. This freestanding shop and residence has captivated buyers with its prime location and immense potential.
“Situated in the heart of Cronulla Mall, this property boasts a long-established tenant Kidstuff with approximately 51 stores nationwide, ensuring a stable and reliable income stream.”
The property’s ground floor is currently leased for $115,875 plus GST per annum gross.
Mr Bouteris states, “Retail assets in prime locations and with blue-chip tenants are scarce in the Sutherland area, making the rapid sale of this property easily understandable.”
Spanning an area of 283 sqm, the property features a spacious ground floor area of 147 sqm, complemented by a first-floor area of 136 sqm.
Mr Bouteris added, “The immaculate 2-bedroom residence on the premises presents an exciting opportunity for future tenants, with an estimated potential rent of approximately $630 per week.”
Moreover, the property’s advantageous location on a 180 sqm land area within the Cronulla Mall offers convenience to customers and tenants alike. “The presence of a council car park at the rear further adds to the property’s appeal,” Mr Bouteris confirmed.
Sutherland is also a preferred and affordable industrial hub
Mr Bouteris highlights the Sutherland region as an increasingly preferred and affordable industrial hub due to its proximity to Sydney Airport and Port Botany. He notes a rising demand from buyers in the Inner West and Eastern Suburbs as the industrial markets become costlier per square metre.
“Despite interest rate increases, the industrial property market in The Shire continues to thrive, with high prices fuelled by robust demand. Tradies and individuals seeking storage space are prominent buyers in this market.
“With limited industrial land available in the Sydney metro area, the Sutherland Shire industrial market is expected to appreciate, building upon its remarkable growth over the past decade.”
For all your commercial property sales and leasing needs in the Sutherland Shire, contact Raine & Horne Commercial Sutherland Shire at 02 8536 7999.