A passive investor is expected to purchase a parcel of fully leased freestanding buildings with duel frontage including prestigious Forest Road, Hurstville when it goes up for auction on 17 June, 2016.
The properties, which front 336 Forest Road and 7 Barratt Street, Hurstville include international hotpot franchise Simmer Huang Hurstville, Eden Espresso Bar as well as gift shop EI Goods and Tongzhou Yoga studio.
Gunning Associate Director James McKenny said the 432.9sqm site which has a combined building area of circa 577sqm is located right by the main entrance to Hurstville Train Station and Bus Interchange and within very close proximity to the entrance to Hurstville Westfield.
“It is a trophy location and ticks all the boxes with its position close to key infrastructure and strong customer foot traffic,” Mr McKenny said.
“Forest Road buildings are prized assets and rarely change hands. With an excellent mix of established tenants, coupled with its excellent position and potential this is the ideal investment opportunity. As well as a frontage on Barratt Street it has additional exposure onto the intersection of Woodville Street and Crofts Avenue.
“Investors can benefit in the short term from a secure income stream from the established tenants with an average weighted lease expiry of three years. There is also a larger bonus to be gained in the medium to longer term from the future development potential of the site in line with the state government’s push for higher density around prominent railway stations.
“With interest rates at record lows and development in strategic centers continuing to boom this will see the property continue to experience strong future growth in rents and capital values,” Mr McKenny said.
The property is a deceased estate sale and the vendor is undisclosed.
