FOR SALE
Prime Commercial in Palm Beach | For Sal

22/1097-1101 Barrenjoey Road
Palm Beach NSW 2108

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 135m2
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Investor or Owner Occupier opportunity to secure a Prime Commercial Investment P

A rare opportunity to purchase this prime main road facing strata commercial investment within the 'Iluka Apartments' complex located at the vibrant Palm Beach village location in a high foot traffic zone. The Palm Beach village features only a handful of commercial opportunities with 22/1097 perfectly positioned in the middle of the existing retail shops. The shop is situated in the modern retail and residential complex of the "Iluka Apartments" with the premises (on one title) divided into two shopfronts & strata approved.
Palm Beach is known worldwide for tourists, high net worth holiday home owners and a constant flow of permanent locals through the village every day.
One shopfront is currently owner occupied, and the owner is willing to sign a lease to provide future security for the new owner. The second shop has a lease in place until June 2025, providing flexibility in allowing for owner operators or investor purchasers.
Features:
Shop 22 is 134 sqm on title
Split into 2 shopfronts (22A & 22B)
22A is owner occupied, who is wiling to sign a 2x3x3 year lease at approx. $500 + GST per week
22A is occupied by Palm Beach Salon, an established hairdresser used by the majority of locals
22B is leased until June 2025 at $740 + GST per week
22B is now vacant however is fitted out as an office, previously real estate and holiday lettings, 60sqm in size (30 sq meters + 30 sq meters courtyard)
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Property Details for 22/1097-1101 Barrenjoey Rd, Palm Beach

Building Type
Commercial
Floor Size
135m2

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About Palm Beach 2108

The size of Palm Beach is approximately 2.7 square kilometres. It has 21 parks covering nearly 41.8% of total area. The population of Palm Beach in 2011 was 1,596 people. By 2016 the population was 1,620 showing a population growth of 1.5% in the area during that time. The predominant age group in Palm Beach is 60-69 years. Households in Palm Beach are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Palm Beach work in a professional occupation. In 2011, 70.5% of the homes in Palm Beach were owner-occupied compared with 75.2% in 2016.

Palm Beach has 1,438 properties. Over the last 5 years, Houses in Palm Beach have seen a 25.41% increase in median value, while Units have seen a 121.23% increase. As at 30 September 2024:

  • The median value for Houses in Palm Beach is $3,558,874 while the median value for Units is $2,052,089.
  • Houses have a median rent of $1,500 while Units have a median rent of $618.
There are currently 26 properties listed for sale, and 6 properties listed for rent in Palm beach on OnTheHouse. According to CoreLogic's data, 40 properties were sold in the past 12 months in Palm beach.

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