This prime property provides a strategic opportunity to acquire a mixed-use landholding of scale with a myriad of future development options while providing an excellent return along the way. The shopping centre has been owned by the current family for over 50 years and being located in an extremely high traffic location the site has over a 100m frontage to state highway 1 and the same to the adjacent. The surrounding Tinwald and Lake Hood suburbs have seen large growth in recent years with new housing subdivisions increasing the population and that along with the high-profile location has always seen this as a sought after location for small businesses and has resulted in little to no vacancies over the years.
The property comprises of 9160sqm and 10 titles, two road frontages and is a good rectangular shape which would make future development easier. There is a diverse income stream with 15 tenancies including retail, storage, coolstore/warehouse, builders, hairdresser, cell tower etc and one residential house along with space to develop further.
Currently the property is returning $354,433 plus GST.