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Raine & Horne Commercial - North Sydney

2/1-3 Ridge Street North Sydney, NSW 2060

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2/1-3 Ridge Street,
North Sydney, NSW 2060

Offices • Medical & Consulting • Shops & Retail

Price information

Sold

$1,100,000

Key property information

Floor area

Car spaces

Property extent

Tenure type

Sold on

Map of 2/1-3 Ridge Street

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COMMERCIAL STRATA / RESIDENTIAL CONVERSION OPPORTUNITY (STCA*)

  • B4 MIXED USE ZONING
  • SALE OF A GOING CONCERN
  • POTENTIAL TO CONVERT TO RESIDENTIAL
Finished to an exceptionally high standard, saturated with natural light and subject to an envious B4 Mixed use zoning. The sunlit entrance and feature staircase of Unit 2 gives access to multiple work / living spaces, as well as a recently upgraded kitchen, with dishwasher, meeting / boardroom, ample storage throughout, internal bathrooms as well as the sun-drenched courtyard. The current zoning being B4 Mixed use, provides a sensational value add opportunity to convert to residential (SCTA*). The holding income from the sitting tenant provides the new owners the benefit of cash flow during the submission of a D.A.** if desired.

- TERM: 3 + 3 years
- COMMENCEMENT: 01.08.2016
- SECURITY: $21,333,02
- GROSS INCOME: $56,085.16 p.a. + GST
- OUTGOINGS: $9,575.64 p.a. + GST where applicable
- NET INCOME: $45,509.52 p.a. + GST
- UPSIDE: 4% annually & market review at the exercise of option

Nestled in the tree lined streets of North Sydney, with immediate access to café eateries and local restaurants, whilst also being in immediate proximity to Marist Brothers North Sydney, Monte Saint Angelo’s and a multitude of additional primary schools as well.

*(STCA) – Subject to council approval
**D.A. – Development application

To obtain an information memorandum, further property details or arrange inspection via appointment, please contact Nick Moloney on 0477 545 1....

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Property ID: 503013222Last Updated: 11 Feb 2019

Raine & Horne Commercial - North Sydney

Level 3, 104 Mount Street
NORTH SYDNEY, NSW 2060
04775451...
Raine & Horne Commercial - North Sydney
2/1-3 Ridge Street
North Sydney, NSW 2060
Raine & Horne Commercial - North Sydney
Level 3, 104 Mount Street
NORTH SYDNEY, NSW 2060
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