The subject property occupies arguably the best corner position in The Entrance, an iconic tourist hotspot overlooking Tuggerah Lake and an outstanding stretch of white sandy beaches. The Entrance is located 98 kilometres (approx.) north of the Sydney CBD and 64 kilometres (approx.) south of the Newcastle CBD.
The building was refurbished in 2009, with further works completed in 2016 and presents in excellent condition. The tenancy mix comprises strong local retail traders and secure residential income from two apartments and a residential penthouse, which also has the potential to be leased for holiday accommodation. Further development potential also exists with a conversion to strata and sell down of individual tenancies (STCA). The improvements are situated on a north facing corner holding with planning controls presently allowing a floor space ratio of 2.75:1 and a maximum height of building limit of 23 metres.
For Sale by Expressions of Interest – Price Guide $3,250,000