Stand alone 3 level building in the heart of one of the fastest growing Sydney suburbs.
The property is located on popular retail strip of Riverwood directly across from Riverwood Train Station. You will find here Woolworths, ALDI, KFC, CBA, NAB, Post Office & Fitness First as well as a number of popular restaurants and function centers. There is lots of council parking behind the building.
Property features 3 separate tenancies, currently leased to a single tenant.
– Lower Ground level includes food preparation area, mechanical exhaust ducting, cool room bathroom, with customer entry and with rear lane access. Currently approved as a pizzeria/bakery and it is used as a bakery.
– Ground floor shop area featuring display counter, customer seating area, bathroom, back preparation area, rear lane access and council approval for table and chair outside on the footpath. Shop currently approved as a Delicatessen with a packaged Liquor Licence.
– First floor features two residential apartments, 1 x 1 Bedroom & 1 x 2 Bedroom with balcony. Both units include kitchens, bathrooms & laundries. Recently run as B & B holiday apartments.
Property offered with an expired lease in place over the ground and and lower ground levels to one tenant, potential to occupy once tenant is given notice. The levels can be occupied by separate tenants. Current rent $41,600 P.A Gross + GST for the ground level and $41,600 P.A Gross + GST for lower ground level (total $83,200). Residential units offered vacant possession, previously rented for $18,200 and $20,800 respectively (total $39,000) , but fetched more as B & B.
Development potential, in accordance to the NSW State Planning portal this property offers an FSR of 2:1 with an 18 metre height limit (subject to council approval).
This property offers the a great opportunity for food users and/or investors looking for a site with multiple potential and joy of the rewards for many years to come. For further information or to arrange an inspection, please contact us.
Auction: 28th October 2021 7pm Online @ AuctionNow.com.au.
M: 0401 451 889