1-3 Ridge Street, NORTH SYDNEY, 2060, New South Wales

  • 149sqm
  • 2
27386122.full

Subject: 1-3 Ridge Street, NORTH SYDNEY, 2060, New South Wales

Under Offer

$1,100,000

COMMERCIAL STRATA / RESIDENTIAL CONVERSION OPPORTUNITY (STCA*)

Property ID: 19951966

Finished to an exceptionally high standard, saturated with natural light and subject to an envious B4 Mixed use zoning. The sunlit entrance and feature staircase of Unit 2 gives access to multiple work / living spaces, as well as a recently upgraded kitchen, with dishwasher, meeting / boardroom, ample storage throughout, internal bathrooms as well as the sun-drenched courtyard. The current zoning being B4 Mixed use, provides a sensational value add opportunity to convert to residential (SCTA*). The holding income from the sitting tenant provides the new owners the benefit of cash flow during the submission of a D.A.** if desired.

- TERM: 3 + 3 years

- COMMENCEMENT: 01.08.2016

- SECURITY: $21,333,02

- GROSS INCOME: $56,085.16 p.a. + GST

- OUTGOINGS: $9,575.64 p.a. + GST where applicable

- NET INCOME: $45,509.52 p.a. + GST

- UPSIDE: 4% annually & market review at the exercise of option

Nestled in the tree lined streets of North Sydney, with immediate access to caf eateries and local restaurants, whilst also being in immediate proximity to Marist Brothers North Sydney, Monte Saint Angelo’s and a multitude of additional primary schools as well.



  • - Subject to council approval

    **D.A. – Development application

    To obtain an information memorandum, further property details or arrange inspection via appointment, please contact Nick Moloney on 0477 545 111.

Parking Bays2
Building / Floor Area149 sqm
TenantedYes

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