Property ID: 1P0086
44a Foveaux Street Surry Hills NSW
-
Offices
-
Sold
-
1086 sqm
-
365 sqm
A dominant three level commercial/retail building
A superb three storey commercial building dominating exposure across two main thoroughfares in the heart of Surry Hills.
Offered for the first time in excess of 30 years, 44a Foveaux Street Surry Hills has maintained the same tenant throughout this entire period, demonstrating its quality without peer!
The building will provide purchasers flexibility through development potential (STCA) underpinned by the security of a long lease inclusive of 2 x 5 year options. A redevelopment clause equal to 12 months notice is acceptable upon notification by the lessor at any given time.
Forming part of the commercial centre of Surry Hills, this designated area is regarded as the main commercial hub of Sydney's eastern city fringe. The location provides level walking access to Central Station and China Town.
Gross Building Areas:
Ground Level - 362sqm (approximately)
First Level - 362sqm (approximately)
Second Level - 362sqm (approximately)
Total combined - 1,086sqm (approximately)
Sydney City Council indicates the land is currently within an area zoned B(2) Local Centre. Under the provisions of the local Environmental Plan 2011 Sydney City Council recognises the land being zoned B4 Mixed Use. Sydney Local Environmental Plan 2011 defines 'Mixed Use' as "a building or place comprising two or more different land uses".
Tenant: Energi Design - A well-known and respected worldwide design agency.
Net Income: $603,067.50 p.a. ex GST
Annual Increase: CPI or 5%, which ever is the greater.
Recent sales of commercial buildings in Surry Hills have resulted in spirited competition; therefore, we encourage your inspection before this opportunity is lost!
Please contact the Agents listed below to arrange an inspection or for a copy of the contract
Tom Speakman
M: 0412 891 330
P: (02) 9698 0222
E: ts@gunningcommercial.com
Daniel Gunning
M: 0413 051 235
P: (02) 9698 0222
E: dg@gunningcommercial.com
Offered for the first time in excess of 30 years, 44a Foveaux Street Surry Hills has maintained the same tenant throughout this entire period, demonstrating its quality without peer!
The building will provide purchasers flexibility through development potential (STCA) underpinned by the security of a long lease inclusive of 2 x 5 year options. A redevelopment clause equal to 12 months notice is acceptable upon notification by the lessor at any given time.
Forming part of the commercial centre of Surry Hills, this designated area is regarded as the main commercial hub of Sydney's eastern city fringe. The location provides level walking access to Central Station and China Town.
Gross Building Areas:
Ground Level - 362sqm (approximately)
First Level - 362sqm (approximately)
Second Level - 362sqm (approximately)
Total combined - 1,086sqm (approximately)
Sydney City Council indicates the land is currently within an area zoned B(2) Local Centre. Under the provisions of the local Environmental Plan 2011 Sydney City Council recognises the land being zoned B4 Mixed Use. Sydney Local Environmental Plan 2011 defines 'Mixed Use' as "a building or place comprising two or more different land uses".
Tenant: Energi Design - A well-known and respected worldwide design agency.
Net Income: $603,067.50 p.a. ex GST
Annual Increase: CPI or 5%, which ever is the greater.
Recent sales of commercial buildings in Surry Hills have resulted in spirited competition; therefore, we encourage your inspection before this opportunity is lost!
Please contact the Agents listed below to arrange an inspection or for a copy of the contract
Tom Speakman
M: 0412 891 330
P: (02) 9698 0222
E: ts@gunningcommercial.com
Daniel Gunning
M: 0413 051 235
P: (02) 9698 0222
E: dg@gunningcommercial.com