80 The Corso,
Manly, NSW 2095
Shops & Retail
Price information
Sold
Contact Agent
Key property information
Land area
Floor area
Parking info
Zoning
Tenure type
Sold on
Map of 80 The Corso
Prime Retail Investment with Growth - Submit all offers
* Superbly located in one of Sydney's busiest retail strips
* A unique retail investment of 120sqm* retail and 3 flats.
* 5 year lease to "100% Mambo" with annual 5% reviews
* Net income: $263,805 per annum*
* All offers to purchase to be considered prior to auction
Full Description:
This unique retail investment is a very well maintained double storey retail/residential building comprising ground floor shop of approximately 120 square metres and a good 5.2 metre shop front to The Corso. The 1st & 2nd floors comprise 3 x 1 bedroom modern apartments, each approximately 45-50 square metres, plus additional terrace areas. The property also has strata plan approval for the subdivision of the retail and residential areas.
The subject property is prominently located on the southern side of the main Corso retail strip, between South Steyne and Darley Rd, Manly. Rear access is via Rialto Lane. The Corso at Manly is a partly-mall promenade area between Manly Beach and Manly Wharf, an area of cafes, clothing, interesting shops and street entertainment.
The property has a 5 year lease to "100% Mambo" with 5% annual reviews for the ground floor retail as well as 3 tenancy agreements for 3 residential flats on the upper floor. The net rental income is $263,805 per annum (as at 13 August 2008).
Forecasting over the next 12 months investment spending is likely to remain robust, as improved retail trade spending figures and potential rental growth for prime retail stock that is well located and managed will place further downward pressure on yields and support strong investor demand.
With the superb retail location coupled with a long lease expiry profile of quality tenants and a strata plan approval for the subdivision of the retail and residential areas, we highly recommend this investment is well positioned to deliver secure returns in the medium term and longer term rental and capital growth.
Auction: Thursday 7th August 2008 at 10:30am
Venue: Angel Place Auction Centre, 123 Pitt Street, Sydney NSW 2000
* A unique retail investment of 120sqm* retail and 3 flats.
* 5 year lease to "100% Mambo" with annual 5% reviews
* Net income: $263,805 per annum*
* All offers to purchase to be considered prior to auction
Full Description:
This unique retail investment is a very well maintained double storey retail/residential building comprising ground floor shop of approximately 120 square metres and a good 5.2 metre shop front to The Corso. The 1st & 2nd floors comprise 3 x 1 bedroom modern apartments, each approximately 45-50 square metres, plus additional terrace areas. The property also has strata plan approval for the subdivision of the retail and residential areas.
The subject property is prominently located on the southern side of the main Corso retail strip, between South Steyne and Darley Rd, Manly. Rear access is via Rialto Lane. The Corso at Manly is a partly-mall promenade area between Manly Beach and Manly Wharf, an area of cafes, clothing, interesting shops and street entertainment.
The property has a 5 year lease to "100% Mambo" with 5% annual reviews for the ground floor retail as well as 3 tenancy agreements for 3 residential flats on the upper floor. The net rental income is $263,805 per annum (as at 13 August 2008).
Forecasting over the next 12 months investment spending is likely to remain robust, as improved retail trade spending figures and potential rental growth for prime retail stock that is well located and managed will place further downward pressure on yields and support strong investor demand.
With the superb retail location coupled with a long lease expiry profile of quality tenants and a strata plan approval for the subdivision of the retail and residential areas, we highly recommend this investment is well positioned to deliver secure returns in the medium term and longer term rental and capital growth.
Auction: Thursday 7th August 2008 at 10:30am
Venue: Angel Place Auction Centre, 123 Pitt Street, Sydney NSW 2000
Property ID: 5419662Last Updated: 20 Sep 2017
02 9891 33...
80 The Corso
Manly, NSW 2095
CBRE - Western SydneyLevel 4 10-14 Smith Street
PARRAMATTA, NSW 2150
PARRAMATTA, NSW 2150
Contact Agency
Similar properties
Other properties you might be interested in based on the location and property type you are looking at.
