Ray White Lower North Shore | Projects presents for your consideration, an outstanding opportunity to obtain a double fronted investment property with DA approval for the construction of a three-storey mixed use building comprising two retail shops and six apartments above.

Perfectly positioned in one of the most exclusive suburbs in Sydney, 37 Spofforth Street is only 5.5km to Sydney CBD. Mosman offers a wonderful lifestyle full of exclusive fashion retailer's eateries, providores, cafes and restaurants, with the subject property less than 700 metres to both Cremorne and Neutral Bay Villages. The locality is well serviced by way of public transport operating on a frequent basis. Occupying a 372sqm parcel of land the property is ideally located to enjoy all Mosman & the surrounding suburbs has to offer.

The existing property consists of two ground floor retail shops with frontage to Spofforth Street, one commercial office suite on the first floor with access from Spofforth Street and a large 3 bedroom apartment which has separate access via Calliope Lane. The residence has a roof terrace, lock up garage and hardstand parking area for up to three cars. The property currently offers an attractive income stream from three tenants with a passing income of $117,907 per annum (net) with potential for substantial rental growth.

There continues to be strong demand for boutique development sites in Mosman, particularly in this last financial quarter. This demand has been predominantly from developers, builder/developers and investors who are finding it extremely difficult to acquire suitable development sites in this tightly held market.

Features:
- DA approved site with holding income
- Approved for 6 residential apartments, 2 shops plus parking
- 12 metres wide with dual street frontage
- Existing property comprises 2 retail shops, 1 x 3 bedroom apt and first-floor office
- Close to Cremorne & Neutral Bay Villages


Expressions of Interest closing Friday 8 December 2017

Inspect by appointment only

Tim Abbott 0425 285 833
Michael Counihan 0434 731 214
Scott Stephens 0409 960 006


*All information contained herein is gathered from sources we consider to be reliable, however we cannot guarantee or give any warranty to the information provided. The property images contained within this advertisement are artist's impressions and are not photos of the actual finished product.