Professional/Retail Investment with Immediate Returns & Long-Term Growth Opportunities
RWC Bayside is pleased to present 401-409 Main Road, Wellington Point to market For Sale by Expressions of Interest, closing Wednesday 27 March 2024, 4pm (AEST).
Comprising a purpose-built single-level professional/retail building with 716sqm* NLA set on a high profile 2,218sqm* lot, this property is strategically positioned along the bustling high street of Wellington Point. The expansive frontage exceeds 40m*, ensuring excellent visibility and accessibility while the large on-grade car park enhances customer convenience.
Offered as a genuine investment opportunity with a current passing nett income of $259,495.64^, the property is being offered for sale with one vacancy providing a buyer with the opportunity to either occupy the vacancy or lease to a new tenant. Based on market rental we expect the fully leased centre to generate a nett income of $301,866.75^.
The land-rich site provides an opportunity for the future redevelopment of the property. The current 'Local Centre' zoning allows for a mixed-use development to a maximum of 3 storeys.
This property offers an enticing blend of stable passive income and significant future upside, making it an ideal investment opportunity for astute investors seeking both immediate returns and long-term growth.
Features include:
- 716sqm* single-level professional/retail building
- High profile 2,218sqm* lot on Wellington Point's high street
- Expansive 40m+ frontage
- Large on-grade car park
- Current passing nett income of $259,495.64^
- Potential nett income projected at $301,866.75^
- 'Local Centre' zoning allows for future development
- Immediate returns with long-term future potential
Expressions of Interest close Wednesday 27 March 2024, 4pm (AEST).
* Approximately
* All amounts quoted are nett values
Comprising a purpose-built single-level professional/retail building with 716sqm* NLA set on a high profile 2,218sqm* lot, this property is strategically positioned along the bustling high street of Wellington Point. The expansive frontage exceeds 40m*, ensuring excellent visibility and accessibility while the large on-grade car park enhances customer convenience.
Offered as a genuine investment opportunity with a current passing nett income of $259,495.64^, the property is being offered for sale with one vacancy providing a buyer with the opportunity to either occupy the vacancy or lease to a new tenant. Based on market rental we expect the fully leased centre to generate a nett income of $301,866.75^.
The land-rich site provides an opportunity for the future redevelopment of the property. The current 'Local Centre' zoning allows for a mixed-use development to a maximum of 3 storeys.
This property offers an enticing blend of stable passive income and significant future upside, making it an ideal investment opportunity for astute investors seeking both immediate returns and long-term growth.
Features include:
- 716sqm* single-level professional/retail building
- High profile 2,218sqm* lot on Wellington Point's high street
- Expansive 40m+ frontage
- Large on-grade car park
- Current passing nett income of $259,495.64^
- Potential nett income projected at $301,866.75^
- 'Local Centre' zoning allows for future development
- Immediate returns with long-term future potential
Expressions of Interest close Wednesday 27 March 2024, 4pm (AEST).
* Approximately
* All amounts quoted are nett values