Residential Property for Sale
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Income Plus Outstanding Development PotentialProperty ID 1549989An outstanding opportunity to acquire this prime real estate asset in the heart of Ettalong Beach, a tightly held blue chip retail location 80km North of Sydney and 20km South of Gosford.
Arranged over two lots, the offering comprises of a fully leased cafe plus six strata titled office and retail suites occupying 1,239m2 prime development land and including rear parking lot for approximately 12 vehicles.
With a total current gross income of $191,718 per annum, this property offers the opportunity to passively sit back and enjoy a substantial, diversified income stream flow plus inherent, very substantial development potential underpinning your investment in the medium to long-term.
A world class view corridor prevails south of the site towards Lion Island and Barrenjoey headland and with a current height limit on the subject site of 5 floors (17 metres), views are assured over the adjoining R1 zoned land (two story height limit).
The current owners have commenced investigations for a more intense use of the subject site which would further enhance the value on offer here (Planning report by Baker Ryan Stewart available upon request).
Substantial entry level mixed use investment
Fully leased to long term and well established tenants
Total of 7 tenancies - many long term tenants in place
Two separate holdings to be offered in one line
Total site area 1,239sqm approximately - dual street frontage plus rear lane access
Total building area 850sqm approximately
Zoned B2 Local Centre, Central Coast LEP 2014
Current FSR 2:1, 17 metres height limit (5 floors)
Expressions of Interest closing Tuesday, 29th November 2016 at 2:00pm
Contact John Ienna - Ray White Umina Beach 0421 202 383 or Gavin Shatford - Shatford Property - 0417 228 507