HIGH QUALITY INVESTMENT OPPORTUNITY - KING ST NEWTOWN
416 King Street Newtown
A unique opportunity for an investor to purchase this property which is situated on Newtown's dynamic King Street strip and a short stroll to the Enmore Rd entertainment precinct. The unbeatable combination of retail and residential makes this property a solid and sound investment. The ground and lower ground floors contain; 5 restaurant seating sections, a full commercial kitchen with a grease trap and ducted ventilation. The restaurant features substantial dining space, excellent renovated facilities and a lock-up garage with rear lane access. The first floor which has separate access, contains an oversized design driven 2 bedroom apartment with an open plan living area which flows to an entertaining deck. Also features sunroom, sky-lit bathroom, gas kitchen and internal laundry.
This quality investment property is currently returning approx. $140,909.09 NET per annum + GST with annual rent increases of 3.5% per annum.
A solidly constructed building with concrete slab floors and only footsteps to train stations, busses, bars and boutiques. Currently operating as a licensed restaurant.
NOTE ALL AREAS ARE APPROXIMATES.
Tenant fully refurbished the property from the ground up when they started the tenancy in 2010 and have since become a food institution known for its high quality food and bespoke wine list within the area and Sydney region. One of the few restaurants of its size to survive COVID which is a testament to its offering & clientele base.
Tri-level retail/residential property, with separate entry oversized 2-bedroom apartment including large outdoor terrace, sunroom and lock up garage, both leased to one tenant having rear lane access from Smith Lane to be sold subject to existing tenancy which is currently on a 3+3 lease.
Land Area: 145.4 sqm approx. Municipality: Sydney City Council Zoning: B2 Local Centre Floor Space Ratio: 1.75 to 1 Building Height Limit: 12 metres
For further details, please contact the below exclusive selling agents.
Lucas McKay - 0403 227 123
Daniel O'Brien - 0404 860 747