Freehold Commercial Investment
157-159 Sharp Street, Cooma NSW 2630
$1,500,000
RetailSize: n/a
Block size: 632 m² approx.
The Westpac Bank building and two storey, four bedroom residence.
The historic building dominates the Cooma C.B.D and cannot be missed as it is adjacent to a busy roundabout and boasts a prominent corner position.
Westpac has been in residence for decades. Previously the Bank of NSW occupied this building since 1914.
The banking chamber (area 310sqm) comprises a long reception and service area, 3 interview rooms, 2 offices, kitchen, two toilet rooms, and storage. Note - The extensive air conditioning system has recently been upgraded and refurbished.
The residence is in two levels. Above the bank is the original accommodation. The four bedrooms feature 3.1m high, ornate ceilings, wide skirtings, thick cedar doors with original charming brass fittings, period windows and a fireplace.
Downstairs is a spacious living room, dining room, kitchen, and laundry, a brick single garage.
The buildings are not built over the whole site.
Lease details,
Westpac - 5yr lease - expires 20/12/22 plus 2 x 3 yr options.
Rent - $55,800 P.An plus G.S.T. Annual indexed adjustments.
Outgoings - Westpac pays 60% of outgoings.
Residence - 18-month lease to 04/08/19 plus 18-month option.
Rent -$14,820 P.An (No G.S.T)
Note - The residential tenants wish to stay long term.
Combined Gross Rent - $70,620
Combined Nett Rent - $66,500 approx (ex-G.S.T)
Agent - Don Menchin 0413 028 795
Inspections - By appointment only.
Comment - This is a rare opportunity to secure a sound investment and a charming building at a most prominent location.
The historic building dominates the Cooma C.B.D and cannot be missed as it is adjacent to a busy roundabout and boasts a prominent corner position.
Westpac has been in residence for decades. Previously the Bank of NSW occupied this building since 1914.
The banking chamber (area 310sqm) comprises a long reception and service area, 3 interview rooms, 2 offices, kitchen, two toilet rooms, and storage. Note - The extensive air conditioning system has recently been upgraded and refurbished.
The residence is in two levels. Above the bank is the original accommodation. The four bedrooms feature 3.1m high, ornate ceilings, wide skirtings, thick cedar doors with original charming brass fittings, period windows and a fireplace.
Downstairs is a spacious living room, dining room, kitchen, and laundry, a brick single garage.
The buildings are not built over the whole site.
Lease details,
Westpac - 5yr lease - expires 20/12/22 plus 2 x 3 yr options.
Rent - $55,800 P.An plus G.S.T. Annual indexed adjustments.
Outgoings - Westpac pays 60% of outgoings.
Residence - 18-month lease to 04/08/19 plus 18-month option.
Rent -$14,820 P.An (No G.S.T)
Note - The residential tenants wish to stay long term.
Combined Gross Rent - $70,620
Combined Nett Rent - $66,500 approx (ex-G.S.T)
Agent - Don Menchin 0413 028 795
Inspections - By appointment only.
Comment - This is a rare opportunity to secure a sound investment and a charming building at a most prominent location.
Inspections
No open inspections scheduled.
Send an enquiry
Contact Don Menchin to learn more about this property, request an inspection or take an online tour.
Key details
Property type:
Retail
Block Size:
632 m²*
Other Details
Lot:
1
Plan Type:
DP
Plan:
937307
Legal description:
1/937307
Maps and area information
Block information
Block size: 632m² (approx)
Legal description: 1/937307
Measurements are estimates only and based on data provided under licence from
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Property history
You don't need a time machine, we've built one for you. Research this property's past sales on the timeline below.
27 Apr 2011
Sold
Menchin Property Marketing
$832,000
Contract: 15/03/2011
Transfer: 27/04/2011
Listed: 17/05/2011
Block size: 632m²
Transfer type: Full transfer
Purpose: Commercial
Cooma suburb information
A little bit about who lives locally, as provided by government census data
SummaryMedian sales
Average Age
45 years
Population
6,715
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Listing ID: 175905226. This listing has been viewed 1439 times. It was first displayed on 12/10/2018 and last updated on 27/11/2018.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.