58 Willoughby Road,
Crows Nest, NSW 2065

Located on Willoughby Road the heart of the Crows Nest retail strip and surrounded by the likes of the thriving Coco Cubano, Grilled, Thomas Dux Grocery Store, Bakers Delight, BWS, Westpac, St George & NAB to name a few this prime freehold land is an offering that can't be matched.

58 Willoughby Road is a mixed use freehold building consisting of an efficient ground floor retail space, a first floor office and a 2 bedroom residential tenancy with parking and balconies. Currently all tenancies within the building are occupied and due to the position and quality are desirable prospects in themselves.

A new 5 + 5 year lease has just been signed on the ground floor shop and is to be occupied as a Japanese Restaurant. The tenant has had vast experience in the restaurant game and was the head chef of a Sushi Train in Chatswood. The lease commenced on the 1st of October 2013 and provides the anchor income for the building. The ground floor retail has access to grease trap, exhaust, rear lane access with a loading dock and an undercover car space.

The first floor office space is currently leased out to a longstanding tenant and benefits from its own kitchenette and bathroom amenities. The office space is located within close proximity to all financial amenities, transport and has great parking options being within close proximity to two council car parks.

The remaining tenancy is a 2 bedroom residential apartment which is always highly sought after. The unit is split over two level with the 1st floor consisting of a large living area which has access to a balcony, a kitchen, a laundry and a bathroom. The upper floor has a master bedroom leading onto a separate balcony, a second bedroom and a bathroom which makes for luxurious living. The unit also has access to a car space and additional storage. A new 12 month lease has just been signed within a week of the property being vacant, not to mention at an increased rental.

Below is a breakdown of the investment figures:

Gross Estimated Rent: $147,610.81 + GST

Water Rates: $2,688.88 p.a.*
Council Rates: $4,746.46 p.a. pa
Land Tax single holding basis: $3,676.00 pa

Estimated Outgoings: $11,111.34pa

Estimated Net Income: $136,499.47 + GST (Where applicable)

Demonstrating a yield of 5.25% Net on the passing income this prospect makes for an attractive opportunity considering the quality of the property and prime location that the freehold possesses.

Please enquire within in order to receive further information or to arrange an inspection.

* The Water rates are based on the Sydney water bill for the last quarter and are annualised.
* The above figures provided are estimates and parties are to rely on their own investigations in relation to the figures.