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1-3 Ridge Street, NORTH SYDNEY NSW, 2060

Sold
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Property Sold in 1-3 Ridge Street, NORTH SYDNEY NSW, 2060

Raine & Horne Commercial North Sydney

Ground Floor, 124 Walker Street, North Sydney, NSW 2060

Listing ID:
11324451
Status:
Sold
Last Updated:
31/05/2019
Price:
$1,100,000
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Property Type

Offices/Medical/Consulting/Retail
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Land Area

N/A
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Floor Area

149 SQM
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Parking

2

COMMERCIAL STRATA / RESIDENTIAL CONVERSION OPPORTUNITY (STCA*)

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 café 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.

*(STCA) - 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.

For more details, please email agent


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Raine & Horne Commercial North Sydney

Ground Floor, 124 Walker Street, North Sydney, NSW 2060


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