375 Pacific Highway, CROWS NEST Information Memorandum
P 1300 325 327 clearpoint.com.au
Introduction
3
Agent Contact
3
Property Details
4
Disclaimer
5
Strata Plan
6
INTRODUCTION
AGENT CONTACT
Clearpoint is pleased to offer for sale in one line Lots 54 & 55 of Strata Plan 71227, 375 Pacific Hwy, Crows Nest NSW 2065.
For further details or to arrange an inspection, please contact:
The site is conveniently located on Pacific Highway between St Leonards and North Sydney business hubs and within an established trade area for bulky retail, home wear and furnishings, with exposure to high volumes of passing traffic. The property totals 1,184 sqm of strata area comprised of 808 sqm of retail/showroom area, 152 sqm of storage space, and 15 car spaces, with a frontage to Pacific Hwy of 49.875m. The Lots are separately leased. Lot 54 is secured by a lease to Home Office Made Easy (Aust) Pty Ltd expiring 31 December 2012 with two options of three years each, returning $206,000 gross plus air con and lift maintenance + GST. Lot 55 is leased on similar terms but available vacant possession if required. A strong passing yield, rent growth potential with an improving market, limited new retail stock, and the possibility of further strata subdivision all present opportunities for purchasers. A formal valuation by HTW in October 2009 of Lot 54 & Lot 55 totalled $5,050,000. Expressions of interest are invited in the high $4M’s to $5M.
Clearpoint Pty Ltd P.O. Box 490, Lane Cove NSW 1595 ABN 74 116 905 394
Phone: Fax:
1300 325 327 1300 325 329
Agent: Mobile: Email: Web:
Rhys Donnellan 0418 486 709 info@clearpoint.com.au www.clearpoint.com.au
PROPERTY DETAILS Overview
Total strata area 1,184sqm Frontage to Pacific Highway of 49.875m Zoning Mixed Use under North Sydney LEP 2001 15 under cover car spaces plus two common disabled car spaces, accessed via Emmett Lane. Gross unit entitlement 271/1000 Current outgoings estimated at $65/sqm based on $56.50/sqm at 2009.
Lot 55 404sqm retail/showroom 106sqm parking (7 car spaces) 510sqm TOTAL AREA Indicative Pricing per square metre Area 808sqm retail/showroom
Rate/sqm $5,200
152sqm storage
$2,000
$304,000
Lot 54
224sqm parking (15 cars)
$2,000
$448,000
Dedicated goods lift
1,184sqm total
$4,400 average
378sqm retail/showroom 152sqm storage 118sqm parking (8 car spaces) 648sqm TOTAL AREA Lot 54 is leased to Home Office Made Easy (Aust) Pty Ltd until 31 December 2012 plus two options of three years each. Passing rent is $206,000 gross plus air conditioning and lift maintenance + GST. Increases are fixed at 3% annually with market reviews at option. The lease is secured by a personal guarantee and a bond of three month’s rent.
Price $4,201,600
$4,953,600 indicative
For further details or to arrange an inspection, please contact:
DISCLAIMER
Clearpoint Pty Ltd P.O. Box 490, Lane Cove NSW 1595
This report has been prepared by Clearpoint Pty Ltd (“Clearpoint”) concerning 375 Pacific Highway, Crows Nest (“Property”) as agent to the vendor.
ABN 74 116 905 394
Phone: Fax:
1300 325 327 1300 325 329
Name: Mobile: Email: Web:
Rhys Donnellan 0418 486 709 info@clearpoint.com.au www.clearpoint.com.au
The purpose of this report is to pass on certain information concerning the Property as at January 2012. This report is given for information purposes only and does not make any warranties or representations in relation to the Property. This report does not constitute a contract or offer to sell nor does it imply a contract or offer to sell. Whilst every care has been taken in preparing this report, Clearpoint and the vendor do not give any warranty of reliability, accuracy, currency or completeness of any of the information supplied nor do they accept any responsibility arising in any way (including by reason of negligence) for any errors or omissions in the information provided. The report may include certain statements or representations concerning the Property including description and dimensions. Any such statements or representations must not be relied on as statements or representations of fact and any interested party must make its own prudent enquiries and satisfy itself by its own inspection, investigation or otherwise. The report may include certain statements, estimates and projections with respect to anticipated future performance. Any such statements, estimates and projections are given as opinions and reflect various assumptions by Clearpoint and the vendor, which assumptions may or may not prove to be correct. No representations or warranties are made as to the validity of those assumptions or the accuracy of those statements, estimates or projections. The vendor reserves the right, at its sole discretion, to postpone or cancel the proposed sale of the property and to modify or add any terms and conditions to any proposed contract or other material associated with the proposed sale, including this document, which may be made available to a potential purchaser.
STRATA PLAN