Property ID: 1P0497

252 Great Western Highway Kingswood NSW

  • Development
  • Sold
  • 569 sqm
  • B4 Mixed Use
DA Approved Development Site
Recently approved for a mixed use development, this ideally located property could support a range of buying options.

Option 1 - Develop with a lease back from the existing owners for the Retail/Commercial space.
Option 2 - Invest & generate a return from the existing 300sqm office space with potential for 2 residential apartments above.
Option 3 - Occupy & benefit from being directly across the road from the rapidly expanding Nepean Hospital & Medical precinct.

Yield - 26 Apartments plus 204sqm Retail/Commercial suite
Product Mix - Affordable Housing x 6
- 1 bed x 12
- 2 bed x 12
Consent Status - DA Approved
- DA Number 14/1108.04
- Date from which consent operates - 3rd May 2019
- Date the consent expires 3rd May 2024
Sale method - Expressions of Interest Closing Wednesday 15th July at 5pm

Site Area - 569sqm Approx
Frontage - 15.04m
Depth - 37.69m

Zoning - B4 Mixed Use

FSR - 4:1
Height Limit - 24m

Current Use - Owner occupied office premises of approx 300sqm with 2 upstairs apartments & secure parking spaces.

The current owners would agree to sign a lease to rent the premises with term & lease details to be agreed as part of the Expressions of Interest campaign.
Upstairs one of the apartments is used as storage & the other is in poor condition & would require some renovation to be habitable.

Develop
Current owners will commit to a long term lease on the retail/commercial space for $60,000pa once the building is complete.
Potential to secure a lease for the 6 affordable apartments as part of the negotiations with the current owners.
Invest
The current building has office space, on the ground floor, of approx 300sqm that the current owners will lease back for $60,000pa.
Upstairs you will find 2 x 2 bed residential apartments. One of which is in a poor state of repair. With a little TLC you could generate an extra income of around $30,000pa.
The site has excellent fencing & security with rear lane access to 9 secures parking spaces.
Occupy
You would be hard pressed to find a stand alone building with such excellent facilities any where in the area. Add to this the potential upside of development & you have an outstanding opportunity to future proof your business.

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