One of Australia’s most famous gyms will be part of the sale of a prominent freehold building at 29-31 Alfreda Street, Coogee.
Raine & Horne Commercial is selling the substantial four-level building that is located on a substantial 842 square metre site on behalf of Ferrier Silvia that has solid leases in place with two very well-established and successful businesses, including a popular, and iconic gym.
Now known as Titan Fitness, the fashionable fitness centre is located on the site of a gym previously owned by former Mr Universe and Australian bodybuilding pioneer Paul Graham[i] who at one time trained Hollywood superstar Arnold Schwarzenegger.
Returning approximately $470,209.20* per annum net from long-term leases with Titan and restaurant Osteria Coogee the high profile, north facing building also looks across Coogee Oval, home to rugby’s famed Randwick Galloping Greens. The property is also only 100 metres to Coogee Beach, one of the most famous beaches in Sydney.
Location, location and opportunity, opportunity
The listing agent, Mr Luke Smith, Co-Principal of Raine & Horne Commercial Inner West/ South Sydney, said the property is perfectly located parallel with Coogee Bay Road, the main shopping and retail strip in bustling Coogee Beach.
“This property will appeal to investors as it has multiple options to reposition the existing building or explore mixed-use and or residential redevelopment options in the future,” Mr Smith said.
The Coogee bus terminates right on the building’s doorstep, with services to the CBD, Bondi Junction, the Inner West and Botany. The property is near the University of New South Wales, Prince of Wales Hospital, and the Royal Hospital for Women.
Mr Smith concluded, “This is a rare commercial property opportunity in Sydney’s highly sought-after Eastern Beaches.”
For a copy of the Information Memorandum for 29-31 Alfreda Street, Coogee, contact Raine & Horne Commercial Inner West/ South Sydney on 02 9572 8855.