CPG are pleased to present to market for sale a significant freehold, mixed use investment with development upside on 673m²* of land over 3 titles on the Princes Highway, located in prime position on the corner of one of the regions busiest intersections, connecting the St George area into the Sutherland Shire via Tom-Ugly’s Bridge.
Currently configured as 2 highly exposed ground floor retail shops with 2 x large 3-bedroom apartments on top and a vacant block of land to the side, the property is ideal for investors with ample rental upside, while also having a favourable E1 Local Centre (mixed use) zoning, 2.5:1 FSR, and 21m building height limit, also offering prime opportunity to be developed into a potential modern building of 1,682m²* total GFA alongside other notable recent successful projects in the vicinity into a modern, mixed use residential and commercial building in a central, convenient location with a pleasant outlook opposite Todd Park, Carss Bush Park Tidal Baths, and a short drive to both St George Hospitals, medical facilities, Hurstville, Kogarah and Carlton train station.
Property Highlights:
- 673m²* total land area
- 17.5m* frontage to Princes Highway with rear lane access via Stuart Lane
- Current building area of 484m²* split over two highly exposed ground floor retail tenancies + 2 x generously sized 2 bedroom apartments
- E1 Local Centre (mixed use) zoning
- Development upside with a 2.5:1 FSR and 21m height limit, potential Gross floor area for development of 1,682m²* (pending council planning controls)
- Potential to be developed into a modern, mixed use residential building with ground floor commercial
- High growth region, recent successful developments nearby including ‘The Upper Deck’, 2A James Street (Level 33), and ‘Panorama’ opposite
- Central and convenient location with a pleasant outlook opposite Todd Park, Carss Bush Park Tidal Baths, and a short drive to both St George Hospitals, medical facilities, Hurstville, Kogarah and Carlton train station
- Current holding income of $57,355.00 pa + GST with significant upside (residential apartments currently not producing income)
- Opportunity for occupiers to use part of building and rent remaining areas, OR secure an entire freehold commercial building with exposure to be renovated into an ideal space for their business headquarters
- Ideal for developers seeking to capitalise on the low site coverage and short term leases
- Exposure to thousands of passing cars daily for all current and future tenancies
For further information or to arrange an inspection, please contact the exclusive selling agents Ryan McMahon on 0429 228 460 or Greg Carr on 0477 880 576.
*Approximate
*Boundaries/Outlines in photos are indicative only
*S.T.C.A