North Sydney commercial site, operating as a brothel, up for sale
A Sydney property licenced to a brothel for the past 15 years is up for sale.
The property, at 115 Pacific Highway, has been described as an “exceptionally rare opportunity to purchase a freehold asset located in the epicentre of North Sydney”.
The listing says it is “leased to a fully licensed Bordello which has been in occupation of the premises for 15 years and provides a brand new 5-year lease plus option”.
The business is known as Pure Massage and advertises “relaxing massage to help you feel better and relieve the pressures of the day”.
“Our beautiful ladies offer sensual massage and are experienced in all techniques,” it’s website says.
“We can also provide additional services at your request.”
There are 12 ladies listed on the site from “big and busty” to small and “playful with good hands”.
Agent Nick Moloney, from Raine and Horne Commercial, said the property had a price guide of $3.15 million and had received strong interest from investors.
“At this stage, we expect it will go to an investor,” he said.
Mr Moloney said the tenant was on a new five year lease with a two year option, which made the investment attractive.
“There’s all the approvals and licences for use as sex services,” he said.
“Legal brothels are quite bound to properties because the licence stays with the property and they are hard to get.
“If the business entity were to move, they would have to initiate the DA process again.
“Where there are legal brothels, the tenants tend to stay for a long period of time.”
He said the current owner was selling a number of assets as part of their retirement plan.
The listing said the business benefited from a central location and is on an “island site made up of four buildings” with an 75 RL metre height limit.
“Whilst North Sydney is currently undergoing a substantial transformation, the smaller freehold assets are becoming more elusive by the day, 115 Pacific Highway is an opportunity that will only become more difficult to secure,” it says.
Property records reveal the property last sold for $1,134,000 in May 2008.
It comes after a spate of commercial brothel site sales, including ones in Fairfield and Chatswood.
The site at 3 Alan St Fairfield sold in July for an undisclosed price.
The business that had been operating at the site was known as both Cherry Blossom Brothel and the Fairfield Brothel.
The house had four rooms each with their own ensuite and a reception and waiting area.
Meanwhile 161 Victoria Ave Chatswood, which had hit the market for the first time in 20 years, sold in April for $5.6m.
The property was operating as Victoria’s Secret Bordello at the time of sale.