19/71 Scott Street, Newcastle NSW 2300

* Estimated Net Income $56,344 pa (approx) + 4% increases pa
* Leased to July 2023 + options to 2026
* Dual Income residential and commercial tenancies
* Corner location in the heart of Newcastle East
* Mixed Use Zoning : B4

Unique Commercial and Residential Investment Opportunity. Dual income streams from commercial tenancy and separate residential one bedroom apartment with one car parking space.

High profile busy north east corner location in Newcastle East with high pedestrian flow. Right in the heart of Newcastle CBD and near the Harbour and Beaches, Pacific Park and 100m to Light Rail station.

Unprecedented growth from commercial and residential developments in the area, strengthening the tenant's custom base and demand.

Summary
Dual income streams from two tenancies.
Total Net Rental Income : estimated $56,344.48pa + GST (approx)
Quality commercial tenancy - 2300 Cafe lease to July 2023 + Option
Residential 1 Bedroom Apartment presently vacant
Secure car space
125 sqm on Title (approx)

Commercial suite is leased and operating as 2300 Cafe. The lease ends 5th July 2023 with a further three year option. Gross Rental Income including outgoings $40,979 pa + GST (approx). The commercial tenant pays 50% of selected outgoings.

The commercial suite has a modern cafe fit out with a northern aspect. Glass sliding windows on the north side. Indoor and outdoor seating areas. Very popular cafe with high foot traffic and exposure.

The 1 bedroom apartment, with 1 bathroom and 1 car space is air conditioned and enjoys a northern aspect, with views towards Customs House and some harbour glimpse. Presently vacant. Estimated Gross Rental Income $440pw being $22,880 pa.

Property Outgoings $7,515.00 pa approx;
Council Rates $2308 approx
Water Rates $2264 approx
Strata Levies $2943 approx


Property information memorandum available.

Inspection by appointment or at Open House.
NOTE : Access for inspection is via Pacific Street entry only

Auction : (If not sold before)
On Site
Date : Saturday 17th July 2021
Time : 1.30 PM