51 Grafton Street Coffs Harbour, NSW 2450
51 Grafton Street Coffs Harbour, NSW 2450
51 Grafton Street Coffs Harbour, NSW 2450
51 Grafton Street Coffs Harbour, NSW 2450
51 Grafton Street Coffs Harbour, NSW 2450
51 Grafton Street Coffs Harbour, NSW 2450

51 Grafton Street Coffs Harbour, NSW

Sold on 16 Jun 2015

Property Type Office
Asking Price Sold
Floor Area 430 m²
Land Area 368 m²

Sold by LJ Hooker Commercial

This affordable prime CBD investment property occupies a prominent highway frontage location in the burgeoning Coffs Harbour CBD.
Positioned near the high profile corner of Grafton Street and Park Avenue, the property enjoys prominent highway exposure.
The property occupies a favourable somewhat elevated position within the popular eastern CBD precinct.
The property is strategically positioned for future redevelopment as detailed within a town planning consultant's report prepared by Bennell and Associates dated November 2014.
This multi-tenanted mixed commercial investment consists of two tenancy areas, including national company Radio Rentals who have entered into a new 3 year lease from December 2014.
The first floor is subject to a new 5+5 year lease from July 2015.
The combined gross annual rental is $68,126, with an estimated net income of $59,721 excl. GST.
The passing rentals are in line with prevailing market rentals.
Frontage to Grafton Street is approximately 9 metres.
The two storey building has an approximate gross leasable area of 430m2.
Total site area is some 368m2.
The land is zoned Business City Centre Core under Coffs Harbour LEP 2013.

This prime investment opportunity enjoys the following features:
- Affordable price range
- Quality tenant
- Strategic CBD holding
- Attractive future redevelopment potential
- Excellent return

This prime investment will be offered for sale by private treaty with an asking price of $700,000, showing a net return of 8.5%.

For all further details contact the exclusive marketing agents:

Troy Mitchell 0417 695 915 tmitchell@ljhcoffs.com
Deb Grimley 0434 301 550 dgrimley@ljhcoffs.com

Winners of The Major Real Estate Franchise Network Of The Year 2013 and 2014.