A fully leased retail asset fronting Willoughby Road has been listed for sale.
51-53 Willoughby Road, Crows Nest is currently leased to Commonwealth Bank Australia on and five plus five lease term. CBA has occupied the property for the past 40 years and only recently undertook a full renovation. The property comprises 754sqm over two floors and also features two onsite parking spaces. The current rental income is over $437,000.
CBRE’s Aaron McLean and Danny Shi are selling the property via auction on September 6.
Mr McLean said this is highly sought-after asset in the heart of Crows Nest and he expects a strong response to the marketing campaign.
“The fact that the property is leased to such a strong covenant and surrounded by core retailers and restaurateurs means that we expect a high level of enquiry,” Mr McLean said.
“Additionally, the new Sydney Metro Rail station that will service Crows Nest will also be an added drawcard. We believe Crows Nest to be the ideal revitalised North Shore suburb of Sydney.”
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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 (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.