23 Belmore RoadRandwick NSW 2031
Property Details for 23 Belmore Rd, Randwick
Last Listing description (October 2024)
This remarkable property boasts a two-story mixed-use freehold, accompanied by a coveted DA for the construction of 9 self-contained studio apartments above existing commercial premises.
Main Features:
* A rare opportunity to capitalize on a DA project approved for 9 x self-contained studio apartments to be built above the existing, that provides an ideal investment opportunity.
* Spacious restaurant with a fully equipped kitchen, cold storage, and a grease trap, currently leased to longstanding tenant with a long history in Randwick. Lease currently has a demolition clause that is advantageous for both developers and investors, providing flexibility for future plans.
This is a unique opportunity to acquire a strategically positioned property in the heart of Randwick with significant development potential and a strong income stream. For further details and to explore this exceptional investment, please contact our exclusive selling agents.
Contact: George Karabalios 0411 505 111
Inspect: By Private Appointment
Property History for 23 Belmore Rd, Randwick, NSW 2031
- 23 Oct 2024Listed for Sale Call Agent
- 08 Oct 2024Sold
- 16 Jul 2024Listed for Sale Call Agent
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0About Randwick 2031
The size of Randwick is approximately 5.4 square kilometres. It has 25 parks covering nearly 20.6% of total area. The population of Randwick in 2011 was 27,740 people. By 2016 the population was 29,998 showing a population growth of 8.1% in the area during that time. The predominant age group in Randwick is 30-39 years. Households in Randwick are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Randwick work in a professional occupation. In 2011, 49.3% of the homes in Randwick were owner-occupied compared with 46.4% in 2016.
Randwick has 16,925 properties. Over the last 5 years, Houses in Randwick have seen a 52.73% increase in median value, while Units have seen a 31.04% increase. As at 31 October 2024:
- The median value for Houses in Randwick is $3,581,714 while the median value for Units is $1,226,595.
- Houses have a median rent of $1,000 while Units have a median rent of $825.
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