A landmark retail freehold in Sydney's Chatswood occupied by international furniture retailer King Living will be offered to the market for sale, in what is expected to be a highly coveted opportunity. It is the first time the property has been offered for Auction in over 35 years.
Tenanted by King Living for almost 20 years, 216 – 218 Victoria Avenue Chatswood has been owned by a private family for over 35 years. Price expectations are within the early $7 millions. Located on the corner of Chatswood's most exclusive retail strip with a brand-new 5 + 5 year lease to the tenant, the 462 square metre, two-storey asset also offers five car parking spaces on title and a further eight car spaces adjacent to the property. It is located just 350 metres east of Chatswood's dual retail offering, Chatswood Chase Shopping Centre and Westfield Chatswood.
CI Australia's Nick Lowry is marketing the asset for sale via Auction on Tuesday 29 September 2020, in conjunction with Shead Property's Rick Sombroek and Bill Geroulis.
CI's Mr Lowry said, "With a prominent corner location, rental upside and recently upgraded major capital items, this is a triple threat opportunity for investors. Chances to secure freehold assets in Chatswood's Victoria Avenue - one of the most tightly held and established retail strips in Sydney - are far and few between. The mixed-use zoning (B2 Local Centre) also offers attractive future development upside, making it an exceptional addition to an investor's portfolio."