Rushcutters Bay investment opportunity a stones throw from the water
Rushcutters Bay investment opportunity a stone's throw from the water
| 8 November 2016
The home of a prominent eastern suburbs adult venue is being offered to the market, representing a strategic investment opportunity in the coveted suburb of Rushcutters Bay.
Located at 133-135 Bayswater Road, the 259sqm site offers prominent roadside positioning, benefiting from high exposure and lively commercial setting. The site represents a multi-faceted acquisition opportunity, underpinned by the strong development upside and favourable planning controls.
The two-storey property will be sold with existing leases to three established local operators, including well-known adult venue “At Michelle’s” and beauty providers “KV Hairdresser” and “KV Nails”. The tenancies, which are secured through 2020, offer an income of $324, 830 per annum.
CBRE’s Nicholas Heaton, Michael Khourl and Gemma Isgro are negotiating the sale via a public auction on Tuesday, 22 November 2016 at 10.30am.
Mr Heaton said investors are expected to vie for the chance to obtain income security as well as the acquisition of a significant foothold in Sydney’s sought-after eastern suburbs.
“The desirable location, excellent outlook for market growth and high barriers to entry for new retail developments within the inner city market, cement this opportunity as one of the most strategic investments presented in 2016.”
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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.