373 BAY STREET, BRIGHTON-LE-SANDS

Size: 300m²

For Sale : AUCTION

Freestanding investment opportunity

Gunning is pleased to offer for sale by Public Auction this freestanding building on the corner of Bay Street and The Grand Parade Brighton Le Sands.

This well presented two level restaurant has huge exposure to south bound The Grand Parade traffic, and very near to the pedestrian crossing to Brighton Beach; a heavy foot traffic area and prominent position.

373 Bay Street has a rear service frontage to Creighton Lane. The building area is approximately 320sqm with a 9 meter frontage to Bay Street.

The Boulevard public parking which has 229 spaces (2 hour free parking) is within close proximity to the property along with the Novotel Hotel. Arguably the best position on this famous southern Sydney food and entertainment strip

KEY FEATURES:
- Freestanding block of land: 170.7sqm
- 9 meter frontage to Bay Street: rear frontage to Creighton Lane
- Gross Lettable area: 300sqm (approximately)
- Zoning: Tourist – Bayside City Council
- Current rental: $145,000p.a. + GST
- Tenant pays, majority of statutory outgoings
- Current tenant on a new 5 + 5 year lease
- Lease commencement date 1st July 2019
- Tenant has recently refurbished internally
- Quality restaurant / cafe fit-out
- Development potential on a site amalgamation basis.
- In the Agent's opinion there is room for improvement in the current market rent.

AUCTION DETAILS
Auction Date: Thursday 14th November 2019
Auction Venue: Club Central Hurstville, 2 Crofts Avenue, Hurstville 2220
Time: 6:00pm

William Gunning
M: 0413 610 194
E: williamg@gunningre.com.au

Malcolm Gunning
M: 0413 872 422
E: malcolmg@gunningre.com.au

Inspection Times

Or By Appointment

PROPERTY OVERVIEW

Property ID:
1P5240
Property Type:
Retail
Land Size:
170.7m² approx.
Building Size:
300 m²