Cronulla 33-39 Cronulla Street  33-39 Cronulla Street, Cronulla NSW 2230 33-39 Cronulla Street, Cronulla NSW 2230

Cronulla malls' largest retail offering for sale

Cronulla malls' largest retail offering for sale!
First time offered for sale in over 55 years.
Shops 33-39 Cronulla Street sprawl over 877m2 of prime Cronulla Mall real estate, consists of four shops and one office with two secure long-term tenants and provide the opportunity for additional revenue as well as blue sky development potential.
The major tenant has a rent review January 2019. Currently paying $450pm2 when the latest leases are paying up to $900pm2. The review will increase yields significantly.
Perfectly positioned within the Cronulla Mall, directly adjacent to the Post Office, with Blooms Chemist and Rundles as long term anchor tenants, the property also boasts easy access from the council car park.
The shops generate a very strong yield and represent an unprecedented opportunity for the astute blue chip asset purchaser.
Current on-site medical would be complimented by adding further consulting rooms and or specialist medical offices above either address.

High Points

  • ‐ Rent review for Blooms chemist in January 2019. Current rent far below market. (see tenancy schedule with recently negotiated rents of up to almost double what Blooms is paying)
  • ‐ Current Nett income $615,828.81 Plus GST pa (rent plus outgoings recovered)
  • ‐ Current rent - $487,462.21 plus GST pa
  • ‐ Scope to add 729.2m2 of lettable space under current FSR and height.
  • ‐ Only one vacancy currently for lease at $40k pa.
  • ‐ Four shops and one office
  • ‐ B3 Commercial Core Zoning
  • ‐ 2:1 FSR
  • ‐ 13m Height Limit
  • ‐ 877sqm land area (approx.)
  • ‐ Total lettable area 1025.4 (approx.)

Expression of Interest Extended for Rent Review

  • High Points
    • ‐  Rent review for Blooms chemist in January 2019. Current rent far below market. (see tenancy schedule with recently negotiated rents of up to almost double what Blooms is paying)
    • ‐  Current Nett income $615,828.81 Plus GST pa (rent plus outgoings recovered)
    • ‐  Current rent - $487,462.21 plus GST pa
    • ‐  Scope to add 729.2m2 of lettable space under current FSR and height.
    • ‐  Only one vacancy currently for lease at $40k pa.
    • ‐  Four shops and one office
    • ‐  B3 Commercial Core Zoning
    • ‐  2:1 FSR
    • ‐  13m Height Limit
    • ‐  877sqm land area (approx.)
    • ‐  Total lettable area 1025.4 (approx.)
  • Features
For Sale
Expression of Interest Extended for Rent Review
Property Details

Retail

Building size: 877.0sqm

Frontage: 15.24m

Open for inspection

As Advertised or by Appointment

Agent
Mathew Cassidy
(02) 9523 4333 | 0467 855 954
Email this agent

Other properties you may like

Get in touch with us.
We're always ready to help.