Calling -Investors -Owner Occupiers -Developers

Location- 230 Military Road Neutral Bay is located on the Northern side of Military Road situated in the established "Nosh Alley" food strip. The property also benefits from the potential for a shop and or access off Waters Road. And sitting some 70m from Neutral Bay council car park.

Tenancies- The property benefits from a mixture of both Retail and Residential tenancies .

Retail Tenant- Neutral Bay Taj mahal Curry House

The property has been has been established and operating as an Indian dine in and take away for 6 years plus. In the block you will be joining many established food operators such as

·Cactus Blue- Modern Australian, Mrs Tops- French cuisine
·Japanese Restaurant - Piccollo - Italian Food - and the Pickled Possum wine bar

The retail tenant has a lease until May 2010, giving the investor flexibility to renegotiate terms or an owner occupier time to plan their own food premises (stca)

Residential Tenant- There is a Large 1st floor unit which is currently occupied on a monthly tenancy. The unit has a warm feel and would benefit from an upgrade with a view to increasing your rental return

Development Potential- The property is significantly under developed. With plans available showing what may be achieved on the site.

Areas Current:
-Site 101m2
-Ground Floor Retail 75m2
-First Floor Residential 73m2

Proposed DA:
-As One Unit 190m2
-Ground Floor Retail 65-75m2
-First Floor 115-125m2

Current Gross Rental Income: $61,720 + GST
(as per lease minus existing hardship clause)

Outgoings:
Water: $1800 p.a
Insurance: $3,446 p.a
Council: $3,400 p.a
Land Tax $1945 p.a
(Single Holding Basis):

Total: $10,591.30 p.a

* Net rental of $51,129 p.a,

Rick Doran 0408 674 623
Tom Doran 0407 928 324
Shane Wall 0402 649 252

See all our listings at www.dorancommercial.com.au

Doran Commercial
Suite 17,Level 2,20 Young Street
Neutral Bay 2089

T 9953 3400
F 9953 3886