This prime CBD investment property occupies one of the few remaining landmark future redevelopment sites in the burgeoning Coffs Harbour CBD.
Positioned on the high profile corner of Grafton Street and Park Avenue, the property is situated directly opposite Woolworths and enjoys prominent highway exposure.
The property occupies a favourable somewhat elevated position on the south eastern corner of the busy traffic controlled intersection, within the popular eastern CBD precinct.
The property is strategically positioned for future redevelopment as detailed within a town planning consultant's report prepared by Bennell and Associates dated November 2014.
This multi-tenanted mixed commercial investment consists of five tenancies, including national company Xerox.
The gross annual rental is $104,557, with an estimated net income of $70,884 excl. GST.
Passing rentals are in line with prevailing market rentals.
Frontage to Park Avenue is approximately 21 metres and some 10 metres to Grafton Street.
The two storey building has an approximate gross leasable area of 361m2.
Total site area is some 242m2.
The land is zoned Business City Centre Core under Coffs Harbour LEP 2013.
This prime investment opportunity enjoys the following features:
- Strategic CBD holding
- Attractive future redevelopment potential
- High profile corner position
- Substantial combined frontages
- Quality tenancy mix
- Secure multi-tenanted investment
This prime investment will be offered for sale by private treaty with an asking price of $900,000, showing a net return of 7.9%.
For all further details contact the exclusive marketing agents:
