CBRE, as the exclusive sales agent, is pleased to present 199 Coogee Bay Road, Coogee. This property Is a two storey retail freehold building occupying a prominent corner position on Coogee Bay Road and Brook Street. 199 Coogee Bay Road offers a generous 407sqm* land offering just 250m* from the renowned Coogee Beach. Positioned on the corner of Coogee’s main thoroughfare, the property benefits from a high level of exposure through its large volume of foot and vehicular traffic. The North-East aspect of 199 Coogee Bay Road allows the property to benefit from an abundance of natural light and ventilation in a location where it will never be built out.

The property offers a secure investment, underpinned by a lease to The Commonwealth Bank of Australia (CBA), who has occupied the building for the past 36 years. A new 3 year lease with fixed increases has commenced, with all of the outgoings being paid by the tenant. With B2 Local Centre zoning and a 12m height limit governing the site, the property also benefits from future development upside (STCA).

The property benefit from the following key attributes:
- Brand new triple net lease to tenant of 36 years, The Commonwealth Bank of Australia (CBA)
- Net Income $409,450*
- Tenant pays all outgoings including land tax, water rates, council rates and property management fees
- Fixed annual increases
- GFA 585.5sqm* split across two storeys
- 250m* from Coogee Beach
- High exposure corner position benefiting from high foot and vehicular traffic
- B2 Local Centre zoning and 12m height limit, allowing for future development potential (STCA)

199 Coogee Bay Road, Coogee will sold via Public Auction on Tuesday, 25th of May 2021 at 10.30am at AuctionWORKS (live stream & online bidding available).

For more information or to request access to the due diligence room, please contact the exclusive selling agents.

*Approximate

Note: All financial figures have been provided by the Vendor. Purchasers are advised to conduct their own independent due diligence.