93 Military RoadNeutral Bay NSW 2089
Property Details for 93 Military Rd, Neutral Bay
Last Listing description (September 2024)
Ray White Commercial Sydney North as the exclusive selling agent are pleased to present 93 - 95 Military Road, Neutral Bay for sale by private treaty.
Positioned on the intersection of Military Road and Ben Boyd Road, directly opposite the iconic Oaks Hotel with an expansive 33 metre* corner frontage, this commercial asset is a rare opportunity to purchase an outstanding freehold building at the gateway of Neutral Bay, sitting on 224 sqm* of land with future development upside (STCA).
The premises consist of a building area of 264 sqm* across 2 separate tenancies, with national telecommunications provider, Vodafone, occupying the retail premises and a long-established local solicitor on the first floor, both on short-term lease agreements. The property presents as an incredible opportunity for investors or developers who wish to maximise the potential of the site, given the existing under development. The property enjoys a generous MU1 Mixed Use Zoning with a 16-metre height limit and no FSR.
The property is ideally positioned in the centre of Neutral Bay Village, directly opposite the iconic Oaks Hotel and Big Bear Shopping Centre, and within walking distance to national retailers including Coles, Woolworths, Australia Post, Chemist Warehouse, Anytime Fitness, as well as specialty stores, niche retailers, financial institutions, professional services, medical specialists, bars, cafes and restaurants.
93 - 95 Military Road, Neutral Bay is surrounded by easy access to public transport which easily connects the property to Sydney CBD, Lower North Shore, Upper North Shore and Northern Beaches.
The property currently has a gross income of $155,501 per annum + GST*.
Property Highlights:
Total building area of 264sqm* over two levels
Site area of 224 sqm*
33m* of corner street frontage
National telecommunications provider, Vodafone, occupying the retail premises
Well-established local solicitor occupying the first floor premises
Ideally positioned in the centre of Neutral Bay Village
Situated directly opposite the iconic Oaks Hotel and Big Bear Shopping Village
Easily connected to the Sydney CBD, Lower North Shore, Upper North Shore and Northern Beaches
Gross Income of $155,501 per annum + GST*
*all figures are approximate
For further details or to arrange an inspection please contact:
Scott Stephens | 0434 341 001
scott.stephens@raywhite.com
Logan Grisaffe | 0403 916 433
logan.grisaffe@raywhite.com
Property History for 93 Military Rd, Neutral Bay, NSW 2089
- 19 Sep 2024Sold
- 03 Apr 2024Listed for Sale ***UNDER OFFER****
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0About Neutral Bay 2089
The size of Neutral Bay is approximately 1.3 square kilometres. It has 20 parks covering nearly 8.8% of total area. The population of Neutral Bay in 2011 was 9,384 people. By 2016 the population was 10,498 showing a population growth of 11.9% in the area during that time. The predominant age group in Neutral Bay is 30-39 years. Households in Neutral Bay are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Neutral Bay work in a professional occupation. In 2011, 46.1% of the homes in Neutral Bay were owner-occupied compared with 44.9% in 2016.
Neutral Bay has 7,062 properties. Over the last 5 years, Houses in Neutral Bay have seen a 16.81% increase in median value, while Units have seen a 30.88% increase. As at 31 October 2024:
- The median value for Houses in Neutral Bay is $2,819,500 while the median value for Units is $1,277,820.
- Houses have a median rent of $900 while Units have a median rent of $720.
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