A building which has been tenanted by the Commonwealth Bank for 40 years with five-plus years left on the lease has been listed for sale — with current rental income over $437,000.
The retail asset at 51-53 Willoughby Road, Crows Nest in Sydney recently underwent a full renovation and comprises 754 square metres over two floors and two onsite parking spaces.
CBRE’s Aaron McLean and Danny Shi are selling the property via auction on 6 September with Mr McLean saying he expects a strong response from investors.
“The fact that the property is leased to such a strong covenant and surrounded by core retailers and restaurateurs means that we expect a high level of enquiry,” he said.
“Additionally the new Sydney Metro Rail station that will service Crows Nest will also be an added drawcard. We believe Crows Nest will be the ideal revitalised north shore suburb of Sydney.”