This article is from the Australian Property Journal archive
A THREE-level retail, office and residential building with four tenancies in Sydney’s popular northern suburb of Balgowlah has traded under the hammer for $2.08 million.
Ray White Commercial’s Scott Stephens marketed 357 Sydney Road, which was auctioned by Jesse Davidson of Auctionworks.
On a 186 sqm site, the 350 sqm building contains café Balgowlah Social on a three-level year lease with a three-year option, and a separate two-bedroom apartment on the ground floor, while the first floor has a newly refurbished office suite with three separate spaces and a large one-bedroom apartment. On a fully lased basis, the estimated net income is around $139,128 plus GST per annum.
The lower ground floor level has rear lane access with space for up to three vehicles and storage.
It is located within the Balgowlah commercial precinct and adjacent to Stockland Balgowlah.
Australian Property Journal
