A rare opportunity to secure a modern freehold, free standing retail investment with three street frontage on the main Narrabeen shopping strip.

LOCATION:
1302 Pittwater Road, Narrabeen 2101
Three street frontages to Pittwater Road, Albert Street and Lagoon Street

DESCRIPTION:
A brick and concrete building on two levels with vehicle access from three streets. The top level was rebuilt new in 1998. The site is an old service station last used 25 years ago. Old tanks have been cleaned out and remediated to Workcover specifications and Certification is available.

AREA:
Land area approx 390sqm
Ground floor building area approx 216sqm
First floor approx 294sqm

ZONING:
General business 3A

TENANTS: Ground level – divided into two shops for designer women’s clothing and home furnishing and dcor (Gidget Coco)
First level – Beauty spa (Pevonia Pty Ltd)

RENTALS:
Ground level $98,934.60 PA plus GST gross
First level $70,614.84 PA plus GST gross plus water usage
Rental review to CPI July 2008

LEASES:
The current leases are 3+3 from July 2007
The property has never been vacant since purchase in 1984 and is always in demand.

OUTGOINGS:
Council rates $2,801.89
Garbage removal $220.00
Land tax last average $545,333.00
Water rates $400.00 approx – usage paid by tenants

PRICE: $2,600,000

CONTACT: Claudio Marcolongo 0418 460 345