Prime retail investment opportunity with excellent potential to add value or redevelop.

The subject property occupies approx 280m2 of land and is situated in the heart of Drummoyne's retail element.

Existing building area is approx 120m2 with a floor space ratio of 2: 1 which allows up to 560m2 of building area on this parcel of land. Redevelopment or adding value/renovating this property would yield an excellent return given the high demand for boutique retail and commercial space along Victoria Road.

Currently the property enjoys a passive income of approx $28,000 per annum approx via two retail tenancies on expired leases which allows for redevelopment access in the immediate future. Alternatively, opportunity exists to review rents and land bank for the future as Drummoyne has been enjoying continuing steady growth.

Land area: 280m2
Building area: 120m2
Zoning: B4 Mixed Use
FSR: 2:1
Height Limit: 3 storey
Parking: Ample on site

Tenancy details:
1) Shop 1
- Annual income: $21,360.48pa gross approx
- Expired lease
2) Shop 2
- Annual income: $6,545pa gross approx
- Expired lease