Downton Property have such pleasure in offering for sale an attractive investment opportunity within the busy Kingston Beach commercial precinct. The local RSL currently occupies and holds a lease over the whole the property however, previously the main building has been a residence and also housed the Kingston Cottage Restaurant. There is an additional second smaller building at the front which has been a hairdressing salon in the past and is now a small function room.
37-39 Beach Road offers incomparable street frontage, versatility and convenience, lending itself to multiple uses. The current tenants have held the lease for approximately the last 15 years and the current lease is in place until August 2021 which would allow ample time for future development approval whilst still receiving an income.
Occupying 0.1112 hectares of land and offering up to 20 car spaces at the rear of the property, entry is simple, level and direct from the road ensuring easy access for customers and suppliers. The RSL itself offers two large function areas, a kitchen/bar, office, sunny outdoor entertaining area, 3 toilets and one bathroom equipped with shower. The building at the front provides an exceptional, light filled retail or office space.
All together the building housing the current RSL tenant is approximately 187m2 in size and the additional building at the front is approximately 41m2, giving a total of approximately 228m2 for both buildings combined.
The total annual rental income currently is $46,082 inclusive of outgoings however this is sitting below current market value. The property could generate further income per annum if both buildings were individually let.
Well serviced by public transport, banks, and retailers the surrounding high-density up and coming residential area will ensure any business thrives here. Development opportunities are ripe with the recent transformation of the nearby café and restaurant strip, as well as the lifestyle shops in the area.
Zoned Local Business and Residential this property provides an ideal opportunity for investors to enter the commercial market or to add to an existing portfolio.
Potential uses include but aren’t limited to:
Education & Occasional Care
Business & Provisional
Community & Entertaining
Downton Property have been instructed by the Vendor to offer the property For Sale by Private Treaty subject to the existing tenancy. This is your unique opportunity to secure an amazing commercial property in a prime beachside location. Don’t miss out on securing a property which provides an exceptional holding income whilst benefiting on the capital growth and exploring the potential development. (STCA)
Inspections by appointment.
Price: Offers Over $1.1million