Have a look at this amazing opportunity! Commercial shop in main street of Old Bar - largest shop in group of 4 WITH proposed plans for 2 units to be built above (STCA)!
- Absolute central, CBD land holding on main street. Best location in the town.
- Extremely busy location with constant pedestrian and vehicle traffic
- Recent zoning change in council now allows for 4 storey additions. Opportunity to own commercial or residential apartment options up to 3 storeys in CBD (up to 8.5m in height)
- Well presented, brick federation styled frontage
- Largest shop of 4 (95m2), neighbouring cafe and real estate agency. Land size of building is 667m2
- Current contracted long term tenant, Newsagency/Gift Shop (10+ years) until March 2022 with opportunity to extend.
- Current rental return of $1859/month (inc GST)
- Very well maintained
- Toilet block and large car park at rear, rear entry also available
- Long term council strategic plan to develop and support CBD as prime shopping district in the area
- Seaside town is bursting with life and new residents. Located 10 minutes from the Pacific highway and easy walking distance to the beach
- Outgoings - Council rates $1936/year, Water $1336/year, Strata $1600/year. Strata well managed and financed - purchaser will inherit residual balance/ share of strata.
- Concept plans drawn up and available for review for the addition of 2 residential units to be built above the shop STCA. Proposed rental return of minimum $800/week. It may also be possible to build out over the rear carpark subject to council approval which would greatly increase the potential for second and third storey square meterage.
Transfer your low interest savings into well performing capital growth, consistent rental income and an opportunity to lead development in popular beachside CBD.
The information contained in the advertising of this property is not based on any independent enquiries or knowledge of the agents, and the vendor and agents expressly disclaim any liability arising therefrom. The accuracy of the information cannot be guaranteed, and prospective purchasers should make their own enquiries and form their own judgement as to these matters.