The property in offer is situated on a prime corner with substantial frontage to Elizabeth and Cooper Street.
This retail investment is leased on a new long term lease to hotelier group Marvan who operate it as "The Evening Star Hotel".
360 Elizabeth Street enjoys a high profile on a main retail street at the foot of the CBD with strong neighboring suburb Chinatown/Haymarket in short walking distance on the corner of Elizabeth and Cooper street between Foveaux Street and Devonshire Street.
Surry Hills is an outstanding city fringe location is rapidly becoming one of Sydney's newest inner city residential and business hubs.
The property is in the heart of the thriving Surry Hills commercial/retail precinct with businesses such Newscorp in the surrounding buildings.
Entrance to Central Railway Station and Sydney Buses network are opposite the property on Elizabeth Street.
This property is well placed to benefit greatly from the Tram-line currently under constructions to be completed 2017/18, providing easy access to the CBD and south to Kingsfords
- Two substantial street frontages
- Leased to Experienced Hotelier
- New 7 year x 5 year lease
- $660,000 pa (NET) + GST
- Tenant pays 100% of outgoings
- 3% annual increases
- 451sqm retail area, storage plus 1 car space
- Prime retail corner position
- Future potential to subdivide into multiple shops ranging from 25 to 195sqm
- Future potential to further strata title into multiple shops (STCA)
Auction; Tuesday May 3rd 2016 at 10:30am (if not sold prior)
Venue: Mezzanine Level, 50 Margret St, Sydney.