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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.

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
Lot:1
Plan Type:DP
Plan:937307
Block Size:632 *
Stamp Duty:$67,505*
*These are approximate values based on available information.
Menchin Property Marketing

Maps and area information

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Block information
Block size: 632 (approx)
Legal description: 1//DP937307
Block Map
Measurements are estimates only and based on data provided under licence from © PSMA Australia 2021.
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Property history
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Property History
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

Suburb and property insights

Median salesMedian sales
Median Sale Price For Cooma
$425,000
Average Age
46 years
Population
6,681
Cooma's Property Profile
Cooma's Occupancy

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Menchin Property Marketing

Menchin Property Marketing

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Don MenchinMenchin Property Marketing
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