Tenanted Balmain Retail Investment for Sale at Auction
A substantial tenanted commercial building prominently located in the heart of Balmain in Sydney’s inner west is being offered for sale via auction by Ray White Commercial Inner West.
The two level building with approximately 750 sqm of floor space in a prime corner location is being marketed by Ray White Commercial Inner West Principal Tim Morrison.
Tim Morrison said the property is fully leased to five long term quality tenants and is currently generating net rental income of $435,125 per annum.
“The property offers a unique opportunity to purchase a significate holding on the prime Darling St retail strip,”Tim Morrison said.
“Among the tenants is Matt Blatt – a successful national retailer and Australia’s go-to destination for exciting inspirational, iconic and unconventional furniture, lighting and homewares with eight showrooms spread across the country.
“The weighted average lease expiry (WALE) for this property is 4.5 years.”
Tim Morrison said the zoning for the building allows for the addition of a residential component above the retail premises.
“Three separate title lots allow for the possibility of subdividing (STCA), so the building has development upside and an opportunity also for an owner-occupier.
“The building is ideally located on the busy retail strip of Darling St with high pedestrian and vehicular traffic.
“The property is also close to the Sydney CBD with quick and easy access to the major commercial hubs along Victorian Road and City West Link.”
The auction will be held at 10.30am (AEST) on Tuesday, June 21, 2016, at Mezzanine Level, 50 Margaret St, Sydney.