Location:
The property is located on the northern side of Darling Street in the Balmain East neighbourhood centre, close to buses and ferries.
Description:
This was extensively refurbished in 2005 with some $350,000 invested, and is fully occupied by Duke Place restaurant.
Ground floor comprises restaurant and commercial kitchen whilst the upper level provides further dining area plus amenities.
A rear courtyard is also provided together with right of way access to Duke Street.
Site Area: 121 square metres approx
Zoning: “Business” under the Leichhardt Council code. Importantly, such business zoning permits a 1.5:1 floor space ratio, thereby potentially enabling further development potential.
Lease: The current lease expires in February 2012
Option: 2 x 3 years
Gross Rent: $74,400 per annum (Excl GST)
Net Income PA $62,402 (approx)