Sydney, 3rd April 2013 - CBRE has been appointed as joint agents in conjunction with Raine & Horne Double Bay to sell a ‘mixed use’ commercial/residential building moments from iconic Bondi Beach.
The property is arranged over three levels and features eight retail shops, with long term corporate leases to established businesses including 7-Eleven and Flight Centre.In addition, the offering comprises ten ultra-modern residential apartments.At only twelve years old the building is in excellent condition and offers a high visual corner position.
Anthony Bray of CBRE and Martin Maskin of Raine & Horne are confident of selling the property at auction on 8th May 2013.
“Properties like this are exceptionally rare, especially in this location, which will drive highly competitive bidding and should result in this being one of the highest priced commercial properties sold at auction for many years,” Mr Bray said.
He further commented; “This property offers the option to sell each unit off individually, or keep as an investment and enjoy growing returns currently at $1.3 million a year, plus substantial depreciation benefits.The building is strata approved and offers the possibility of increasing the floor space subject to council approval”.
The property occupies a prime corner site at Hall Street and Gould Street, just metres from Bondi Beach and in the heart of Bondi’s eclectic shopping district.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.