252 Great Western HighwayKingswood NSW 2747
Property Details for 252 Great Western Hwy, Kingswood
252 Great Western Hwy, Kingswood is a 0 bedroom, 0 bathroom House with 9 parking spaces and was built in 2006. The property has a land size of 574m2 and floor size of 400m2. While the property is not currently for sale or for rent, it was last sold in September 2020.
Last Listing description (September 2020)
DA Approved Mixed Use Site with income
Recently approved for a mixed use development, this ideally located property could support a range of buying options.
Option 1 - Develop with a lease back from the existing owners for the Retail/Commercial space.
Option 2 - Invest & generate a return from the existing 300sqm office space with potential for 2 residential apartments above.
Option 3 - Occupy & benefit from being directly across the road from the rapidly expanding Nepean Hospital & Medical precinct.
Yield - 30 Apartments plus 204sqm Retail/Commercial suite
Product Mix - Affordable Housing x 6
- 1 bed x 10
- 2 bed x 10
Consent Status - DA Approved
- DA Number 14/1108.04
- Date from which consent operates - 3rd May 2019
- Date the consent expires 3rd May 2024
Sale method - Expressions of Interest Closing Wednesday 15th July at 5pm
Legal Description
252 Great Western Highway, Kingswood
Lot 29 DP 656835
Site Area - 569sqm Approx
Frontage - 15.04m
Depth - 37.69m
Zoning - B4 Mixed Use
FSR - 4:1
Height Limit - 24m
Current Use - Owner occupied office premises of approx 300sqm with 2 upstairs apartments & secure parking spaces.
The current owners would agree to sign a lease to rent the premises with term & lease details to be agreed as part of the Expressions of Interest campaign.
Upstairs one of the apartments is used as storage & the other is in poor condition & would require some renovation to be habitable.
Internally the space is bright & modern with an open plan design.
Excellent exposure to the main road & directly opposite Nepean Hospital the property is ideally positioned for future growth.
Develop
Ideally postioned, boutique development site opposite Nepean Hospital & only a few minutes walk to Kingswood Railway Station.
Current owners will commit to a long term lease on the retail/commercial space for $60,000 per annum once the building is complete.
Potential to secure a lease for the 6 affordable apartments as part of the negotiations with the current owners.
Invest
The current building has office space, on the ground floor, of approx 300sqm that the current owners will lease back for $60,000 per annum.
Upstairs you will find 2 x 2 bed residential apartments. One of which is in a poor state of repair. With a little TLC you could generate an extra income of around $30,000 per annum.
The site has excellent fencing & security with rear lane access to 9 secures parking spaces.
Occupy
The location is directly opposite the rapidly expanding Nepean Hospital & surrounding medical precinct.
You would be hard pressed to find a stand alond building with such excellent facilities any where in the area.
Add to this the potential upside of development & you have an outstanding opportunity to future proof your business.
Basis of Sale:
Expressions of Interest closing Wednesday 15th July at 5pm.
Your interest must be expressed formally by completing the submission form on the link below.
Applications submitted after the closing date will not be considered.
Applications will be formally presented to the vendors on the closing date.
Priority will be given to those that offer the best sale terms as well as price.
Property History for 252 Great Western Hwy, Kingswood, NSW 2747
- 01 Sep 2020Sold for $1,408,000
- 18 Jun 2020Listed for Sale $1,650,000
- 22 May 2018Listed for Sale Expressions of Interest. DA approved 30 apts
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About Kingswood 2747
The size of Kingswood is approximately 5.3 square kilometres. It has 22 parks covering nearly 10.3% of total area. The population of Kingswood in 2011 was 9,107 people. By 2016 the population was 9,288 showing a population growth of 2.0% in the area during that time. The predominant age group in Kingswood is 20-29 years. Households in Kingswood are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Kingswood work in a professional occupation. In 2011, 51.4% of the homes in Kingswood were owner-occupied compared with 44.9% in 2016.
Kingswood has 5,431 properties. Over the last 5 years, Houses in Kingswood have seen a 64.54% increase in median value, while Units have seen a 34.13% increase. As at 31 October 2024:
- The median value for Houses in Kingswood is $984,991 while the median value for Units is $565,294.
- Houses have a median rent of $550 while Units have a median rent of $465.
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