Located on the Eastern side of Princess Hwy and on the cnr of Fanning Street Tempe.
South Sydney Commercial are pleased to offer FOR SALE via Private Treaty this outstanding freestanding building with prominent two street frontages and huge exposure to the major arterial Princes Hwy in Tempe. 15km to the Sydney CBD, 5km to Sydney Airport and minutes to Sydney's orbital network.
This character Art Deco building which was formerly occupied by the Commonwealth Bank of Australia is offered FOR SALE 'as going concern' and inclusive of the remainder of lease of approximately one (1) year.
THE PROPERTY
This freestanding inter-war art deco building of brick and concrete construction has a total NLA of 712sqm over Two (2) floors situated on a 494sqm parcel of land.
The ground floor comprises of a large polished concrete showroom of 236sqm which is currently used as a motorcycle servicing & repair workshop. Storage, amenities and a large 31sqm studio form the remainder of of the ground floor giving a total NLA of 309sqm.
The first floor comprises of two (2) distinct areas, the front section facing Princes Hwy is a brick walled six (6) room former residence of approximately 139sqm which are currently used as art studios. The rear component is a large 170sqm open plan space which is partitioned into another nine (9) artist studios with timber frame and gyprock of 1800mm high. Together with amenities total 309sqm of NLA approximately.
To the rear of the building there is 142sqm of hard stand with Fanning Street vehicle access which is currently used for parking, loading and storage.
THE OPPORTUNITY
A very flexible long term investment proposal with multiple entries and tenancy opportunities, this under utilised landmark building has vast scope for improvements and rental upside in the future.
Currently rented at $224,015.45 gross pa + GST for the next 12 months giving you an excellent holding income while also providing exceptional flexibility to either:
1. Occupy in the near future
2. Plan and reconfigure for a greater future use and income.
3. Lock in longer leases with the current tenants to stay on. (this is a possibility that can be explored).
This building will be sold, any interested parties should contact South Sydney Commercial for an immediate inspection.
Call
Craig Carroll
0412 034 263