73 PARRAWEENA ROAD, CARINGBAH

Size: 563m²

Auction: For Sale : SOLD SOLD SOLD

save as calardar appointment Sat, 17th Jun 2017, 11:45 AM

Venue: On Site [ Save Date/Time | Get Directions ]

FREEHOLD PROPERTY / MULTIPLE INCOMES + SELF STORAGE FACILITY

Gunning Real Estate is pleased to exclusively present this free standing property which includes a self storage facility as a going concern, retail shop and caretaker's residence as tenanted investments.

The property is located on the high exposure corridor near high volume bulky goods retailers in the Caringbah industrial area.

This represents a rare opportunity to secure multiple and diversified income streams with strong upsides for further development and appreciation in this growth area.

Eze-Store Self Storage is an independent company which has successfully operated for over 30 years at this location. The 40 self-storage units of various sizes have rentals ranging from $100 to $600 per unit per month.

The multiple income streams include:

40 Self Storage units/facility:
• Occupancy fluctuates between 65 - 75%+
• Tenants are under month to month rental agreements
• 67% occupancy currently produces revenue of $84,000 PA ex. GST
• Strong potential to improve the occupancy level and profits
• Potential to add another level of self storage (STCA)

HIGH POTENTIAL TO INCREASE RETURNS

Retail Café:
• 70 sqm approx.
• Rent $34,909 PA ex. GST
• 3 year lease from 11/2016 - 11/2019
• Annual rental increase to CPI
• Long history of successful retail trading from this site

Caretaker's Residence:
• 1 bedroom fully self-contained unit
• Long term tenant
• Month by month lease
• Rent $300 per week / $15,600 PA

First Floor Offices:
• Two offices and foyer - 48 m2 approx.
• Office 1 used for Eze-Store
• Office 2 is vacant - additional rental potential

Total revenue of $134,509 PA ex. GST approx. with high potential to increase revenue.

For interested parties who prefer a non-active role in managing the self storage facility we can discuss how this could be achieved.

PROPERTY PLANNING CONTROLS AND PARTICULARS:
Zoning: ING 1 - General Industrial
FSR: 1.5:1 Range (1.50 -1.99)
Height of Building: 16m maximum
Dimensions: 12.62m / 12.29m x 87.5m / 85.78m
Land Area: 1056 m2

Engineering plans are available showing the self storage area was originally engineered & approved for a single large factory unit, representing a possible upside for further development (STCA).

The property will be sold and is an opportunity not to be missed!

For more information or to inspect the property, please contact:

Robert Maher
P: 0432 878 398
E: robertm@gunningre.com.au

Inspection Times

Open by Appointment

PROPERTY OVERVIEW

Property ID:
1P4363
Property Type:
Warehouse
Land Size:
1056m² approx.
Building Size:
563 m²
External Area:
541 m²
Frontage:
12.62 m
Car Space:
6
Construction:
Brick

FEATURES

Air Conditioning
Close to Transport
Close to Shops
3 Phase Power
Car Parking - Surface
Exhaust
Existing Fitout
Grease Trap
Toilet Facilities

OUTGOINGS

Water Rates:
$643 Quarterly
Council Rates:
$1038 Quarterly