Colliers is pleased to present 62-64 Coachwood Crescent, Alfords Point - an exceptional, fully leased investment with significant development potential in the dynamic Sutherland Shire market, surrounded by a robust residential catchment. This unique opportunity features a fully leased Shire Neighbourhood Retail Shopping Centre with six long-term tenancies. The property also offers considerable development prospects, with concept plans for a 100-place childcare facility and café, subject to council approval (STCA). Key features of 62-64 Coachwood Crescent include: - Prime land area of 1,489m²* with development potential - Immaculate corner building with a net lettable area of 560m²* - Single-level shopping centre, underpinned by six longstanding tenants - Gross income of $226,016 per annum + GST, which is below benchmark rents - Short term WALE (by income) 1.34 years providing excellent rental reversion potential - Assessed net market income of $500,000 per annum net + GST ($5,000 per place) once fully developed into a childcare facility and café (STCA) - On-site parking with 13 car spaces and additional street parking - One of the only neighbourhood shopping centres in the Alfords Point residential area - Positioned adjacent to Alfords Point Public School and within a large residential catchment - Compounding fixed annual rent reviews across all tenants, ensuring long-term income growth - Separate driveway access to the rear loading dock area - Supported by holding income with demolition clauses in all leases, facilitating preparation for Development Applications (DAs) to maximise GFA and return - Sutherland Shire's 2023 population is 236,197, with healthcare and social assistance being the largest industry within the LGA, generating $1.5 billion annually 62-64 Coachwood Crescent will be offered for sale via an Expressions of Interest (EOI) campaign closing on Thursday, 12th September 2024 at 3:00pm (AEST) unless sold prior. For more information or to arrange an inspection please contact the exclusive Colliers selling agents.
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Property ID: 504663840