· The property comprises of a two storey brick building with basement, and has a mixed commercial and residential use.
Ground floor and basement areas is currently leased to a renowned establishment operating as a restaurant
The restaurant is fitted out with a commercial kitchen, cool room, separate male and female amenities, office and air conditioning*
The first floor is a six bedroom, two bathroom apartment and mezzanine level.
The property also has a double lock up garage and rear court yard area.
Tenancy one (1)
· The property has a potential net rental income of $142,420 pa + GST. (approx.)
The Ground floor, basement and car parking is leased to a business operating as a restaurant.
Leased until 14/3/23 plus a 5 year option.
Tenancy two (2)
Level one apartment comprises of six bedrooms, two bathrooms, expansive views and high ceilings throughout.
There is further room for improvement and renovations to maximise the investment
Currently returning $68,848 per annum*
· Less than 500m too;
· - Newcastle Beach
· - Harbour Foreshore
· - Start of Hunter Street
- Newcastle CBD
This property is strategically located adjacent the light rail terminal/stop
Inspect: By Appointment – Jesse Mulligan (02) 4950 1466 or 0432 160 186
*Residential rental figures approximate
*Fitout of restaurant is predominantly owned by the tenant)