NSW top 5: Surry Hills dry cleaners includes upstairs apartment
Retail properties are up in lights in the New South Wales commercial property market, with the asset class occupying the top three spots on the state’s list of most-viewed properties.
With REA Group chief economist Nerida Conisbee this week reporting retail trade has increased dramatically over the past two months, buyers and tenants are on the hunt for opportunities, particularly in inner-city Sydney.
A prime Surry Hills corner property, home to a dry cleaning business and with a vacant apartment upstairs, has led the way over the past week, with a huge amount of interest on realcommercial.com.au
The property will be auctioned later this month with a $1.4 million price guide, and has a ground floor lease to the laundry until May 2023, while upstairs is a two-bedroom apartment with a wraparound balcony.
It currently returns $58,156 per annum plus GST and includes a courtyard and basement on the 80sqm block.
SPACES GOING QUICKLY AT NEW SHOPPING CENTRE
Cameron Park Plaza, Cameron Park
An artist’s impression of the new Cameron Park Plaza.
Retail leasing opportunities within new and upcoming shopping centres have been among Australia’s most sought-after listings in recent months, and Cameron Park, west of Newcastle, is no exception.
The new shopping centre, due for completion later this year, has only a handful of spaces left available among the 24 specialty tenancies that will complement a Woolworths supermarket.
The vacancies include a restaurant within the centre’s dining precinct, a health and beauty retailer and a medical-based service.
The supermarket was slated to open late last month, while the rest of the centre will open in September.
LIVE AND WORK IN ENMORE
This Enmore property has both a retail space and residence.
An Enmore property on the suburb’s main drag offers the chance to secure a business and a home in one fell swoop.
The vacant shop and upstairs residence will be auctioned within weeks, offering ground floor retail with provisions for a commercial kitchen, while above you’ll find a three-bedroom apartment.
Opposite the Enmore Theatre and Duke Hotel, the property also has the potential to add an additional 75sqm of floorspace.
It goes to auction on July 21.
BRAND NEW BOARDING HOUSE
The boarding house at Rosehill is brand new.
Investors looking to take advantage of the booming Parramatta market are being urged to take a look at this brand new 15-room boarding house.
The property at Rosehill has “oversized” boarding rooms with private backyards, with all rooms self-contained and complete with air-conditioning.
The 1012sqm block, just 1.5km from the Parramatta CBD, also included on-site parking.
It is being sold through expressions of interest, which close on July 22.
DEVELOP THIS COUNCIL CAR PARK
The council car park has been earmarked for redevelopment.
Developers are considering their options after Cumberland Council put one of its car parks on the market as a major development site.
The 2240sqm site at Lidcombe is currently home to 55 car spaces, however those days are numbered, with submissions being sought for its future redevelopment.
The site currently has a maximum height of 32 metres, however proposed planning changes would see it increased to 38 metres.
The council’s tender process ends on July 21.
