238-240 Coogee Bay Road

Coogee NSW 2034

CBRE as the exclusive sales agents are please to present 238-240 Coogee Bay Road, Coogee. The offering represents a well-established and highly desirable investment opportunity in the heart of Coogee, one of Sydney's most prestigious and popular beachside suburbs. Offered to the market for the first time in 25 years, the property commands a substantial foothold on Coogee's thriving retail strip only 150m* from Coogee Beach, with a double lock up garage via Alfreda Street. The property comprises of a generous ground floor retail space benefiting from an inviting atmosphere with high signage exposure via a 12m* frontage, full commercial kitchen including a grease trap and exhaust, and a liquor license.

The recently signed 5 + 5 year lease ending in February 2030 ticks all the boxes with the tenant paying 100% of water rates, 2% annual rental increases and bank guarantee. Furthermore, two fully leased residential apartments are found on the first floor, providing additional secure income streams where 48.3% of Coogee's population are currently renting. The prestigious nature of Coogee is reflected in its affluent demographic and is one of the driving factors behind the area's robust property market. Conveniently positioned along Coogee's coveted retail strip, the property is enhanced by surrounding high-end retailers, popular eateries, transport and the popular Coogee Beach.

238-240 Coogee Bay Road, Coogee benefits from the following key attributes:

Net annual income: $321,153.98*
Diversified income streams from Retail Tenant and two residential apartments
Secured by Bank Guarantee
Ground floor retail tenant on a recently signed 5 + 5 year lease ending in February 2030
Ground floor retail tenant on fixed 2% annual rental reviews
Site Area: 354sqm*
Total Floor Area: 665sqm*
Large 12m* frontage and foothold on to Coogee's high street
Rear access double lock up parking via Alfreda Street
Situated on Coogee's coveted retail strip, surrounding high-end retailers, popular eateries, transport, and Coogee Beach
Full commercial kitchen with grease trap and exhaust
Liquor license

238-240 Coogee Bay Road, Coogee will be sold via a Public Auction at auctionWORKS on Tuesday 16 November 2021 at 10:30am (registration, livestream & online bidding will be available)

Inspections to be held by appointment as per COVID-19 Greater Sydney restriction requirements. Please enquire directly with the exclusive agents to arrange a private viewing.

For more information or to request access to the due diligence room, please contact the exclusive selling agents.

*Approx.

Contact Agent:
Mark Fragias
M: 0410 435 100
E: mark.fragias@raywhite.com