Rare infill retail and residential development site

SOLD - 24/12/2021

• Ongoing secure investment 100% leased
• Mixed Use development site
• New Coles store Opportunity

Cushman & Wakefield are pleased to offer this unique retail and residential development and investment opportunity to the market by Expressions of Interest closing Wednesday 18 August 2021.

This substantial infill site of approximately 4,426 m2 * is zoned B4 Mixed Use and located directly opposite Lady Robinsons Beach in the well established beachside suburb of Ramsgate Beach 16km from Sydney CBD. The property is currently 100% leased to Coles with substantial cash flow underpinned by a favourable triple net lease.

Located on a corner position, this property offers an excellent opportunity for long term investors and or developers who want to take advantage of substantial development upside in the future, supported by secure current income.

Some of the property features include:

Location

• Situated in Ramsgate Beach just 16km from Sydney CBD
• Close to Sydney Airport
• Located directly opposite Lady Robinsons Beach and Cook Park
• Corner position (The Grand Parade and Ramsgate Road)
• North facing site
• Part of Ramsgate Beach retail precinct

Description

• Existing Coles supermarket and car park
• Site area 4,426 m2 *
• Building area 2,200 m2 *
• Current passing income $940,000 *pa on a triple net lease
• One of Coles best performing sites nationwide
• Zoned B4 Mixed Use
• FSR 2:1

Sale Process:

For sale by Expression of Interest closing 4.00pm Wednesday 18 August 2021

Inspections and Further Information

Contact Tim Cassidy on 0412 115 051 or tim.cassidy@cushwake.com

*approx