- 88 Chandos Street presented an outstanding opportunity for investors, owner occupiers and developers to secure a boutique freehold commercial building in the thriving hub of St Leonards.
- The property is a three storey commercial building with NLA of 638 sqm* and parking for 11 cars. It also has development potential for shop top housing (STCA) as stated in the Additional Permitted Uses of Willoughby Local Environmental Plan 2012.
- The property was subject to fantastic interest with over 60 enquiries on the property. The prospective purchasing pool included Owner Occupiers, Investors and Developers demonstrating high demand for this unique opportunity in the tightly held St Leonards market especially where the opportunity exists for future redevelopment.
- Over 10 contracts were issued prior to Auction. The property was sold under hammer.
|Land Area||377.8 sqm*|
|Zoning||Zone – B3 Commercial Core|
HOB – 20 Metres
FSR – 2.5 : 1
|Net Lettable Area (NLA)||638 sqm*|
|Rate per NLA sqm||$6,818 per sqm*|
|Rate Per Land Area sqm||$11,514 per sqm*|
|Net Income (per annum)||Vacant Possession|
|Potential GFA (STCA)||944.5 sqm*|
|Rate per Unit Site (based on estimated of 11 Units – STCA)||$395,500 per unit*|
|Sale Date||September 2017|
|Sale Method||Auction in Room|