The property — at 49-55 Anzac Ave — comprises a commercial office building with three ground floor retail units and four character office floors above.
All are on individual titles, being offered for sale either separately, or together as one entire building.
The property is being sold by Barfoot & Thompson Commercial brokers John Stringer and Scott Whitten, through a tender process closing on Thursday, July 14, unless sold earlier by negotiation.
Dating from the stylish 1920s, the 2697sq m building sits prominently on the corner of Short St and Anzac Ave.
Location
"This is an established commercial and residential precinct with surrounding development comprising residential apartment towers and commercial office buildings. It’s close to both the CBD and the tertiary precinct," Whitten points out.
"The office floors have high-stud, exposed and suspended ceilings, good natural light and range between 503m² to 568m² per floor.
"Some are tenanted and some are vacant, providing options for both investors and owner-occupiers."
Stringer says three retail units on the ground floor return $131,145 at an average rental of $295 a sq m, on medium-to-long leases.
The property now returns about $366,078, with an estimated potential net return of about $610,249 fully leased.
It sits on a rectangular-shaped lot with frontage to Anzac Ave of just over 27m and a frontage to Short St of about 39m.