Colliers is delighted to present this high-quality retail investment situated within the heart of the popular Sydenham commercial hub.
The development was completed post EQ in circa 2016 comprising two blocks of single level retail shops with a total of seven retail tenancies all fully leased that neighbours the existing Mobil Service station site who have been in occupation on the site for 28 years.
The opportunity has a combined total lettable area of approximately 1,396.83sqm and is well underpinned by a substantial land holding of approximately 6,501sqm.
The site is extremely well located in Sydenham with three street frontages at the intersection of Colombo Street, Huxley Street and Walton Street.
The site has a total of 46 parks shared between the retail tenants. Sound income is provided across multiple tenancies, anchored by a strong and diverse tenancy mix.
On a combined basis, the property has a significant net income spread across several tenancies.
In addition, there is a good add value opportunity with a future potential intensification of the current Mobile site, providing future opportunity to enhance income.
For the discerning investor, this presents an opportunity to acquire a high-quality, modern development secured by quality tenants, with promising potential for future growth.
For sale by Deadline Private Treaty: 4pm, Thu 7 November 2024 (unless sold prior).
*Boundary lines are indicative only.
Features:
* Three street frontages
* Substantial site area 6,501sqm
* Quality tenant mix
* Add value opportunities in the future
* Significant net income
* High profile easy access site
* Established Sydenham location
* Underpinned by a considerable land holding benefited by three street frontages
