Freehold Commercial Investment

157-159 Sharp Street,Cooma NSW 2630

$1,500,000

RetailSize: n/a
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 times scheduled. Contact Agent to arrange a viewing.

Key Details

Property Type:Retail
Lot:1
Plan Type:DP
Plan:937307
Stamp Duty:$67,802
Raine & Horne Cooma

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Block information
Legal description: 1//DP937307
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Cooma Suburb Information

 
 
Average Age
43 years
Population
6,664
Cooma Profile
Cooma Occupancy

Contact agents

Raine & Horne Cooma

Raine & Horne Cooma

View agency details
Don MenchinRaine & Horne Cooma
Please send me information on 157-159 Sharp Street, Cooma NSW 2630
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This listing has been viewed 289 times. It was first displayed on 12/10/18 and last updated on 27/11/18.