SOLD
Sold on 09 Feb 2024 for $7,265,000

22A Hillcrest Street
Tempe NSW 2044

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 748m2
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Property Details for 22a Hillcrest St, Tempe

Building Type
Commercial
Land Size
748m2
Local Government
Inner West
Lot/Plan
5/DP1225873

Last Listing description (November 2023)

Burgess Rawson is pleased to offer 22a Hillcrest Street, Tempe NSW 2044 to the market for sale via our Investment Portfolio Auction 165.

The property has the following key investment highlights:

+ Long 12 year net lease to 2033

+ Further options extending to 2048
+ Attractive annual rental increases: the greater of CPI or fixed 3%
+ Stunning architecturally designed 69 LDC place centre
+ 100% occupancy and long wait list
+ Reggio Emilia ELC - prestigious & growing early education operator with premium centres across Sydney
+ Tempe: thriving Inner West suburb growing at over 3 times the NSW state average, only 8km from the CBD
+ Prime location centrally near 3 train stations, Princes Highway, IKEA, Decathlon Sports Superstore & The Good Guys
+ Attractive landlord friendly net lease structure - tenant pays all usual outgoings as per lease, plus management fees
+ Land Tax free commercial investment (NSW only)
+ Child Care/Early Education is an essential service and one of Australia's most sought-after asset classes; both the Federal and State Governments have allocated unprecedented funding to support this sector. In 2022-2023, the Federal Government is projected to contribute $10.7 billion in funding, plus an additional $4.7 billion dedicated to the Cheaper Child Care Reform. ^
+ Net Income: $386,342 pa* + GST

To be sold by Investment Portfolio Auction
10:30am AEDT Tuesday 5 December 2023
Sydney Opera House

*Approx
^Australian Government - Department of Education | Child Care Subsidy Reform

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Property History for 22a Hillcrest St, Tempe, NSW 2044

A timeline of how this property has performed in the market
Last Sold
$7,265,000
09 Feb 2024
  • 09 Feb 2024
    Sold for $7,265,000
  • 07 Nov 2023
    Listed for Sale Price on Request

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About Tempe 2044

The size of Tempe is approximately 1.8 square kilometres. It has 7 parks covering nearly 19.7% of total area. The population of Tempe in 2011 was 3,298 people. By 2016 the population was 3,567 showing a population growth of 8.2% in the area during that time. The predominant age group in Tempe is 30-39 years. Households in Tempe are primarily couples with children and are likely to be repaying $3000 - $3999 per month on mortgage repayments. In general, people in Tempe work in a professional occupation. In 2011, 73.1% of the homes in Tempe were owner-occupied compared with 70.2% in 2016.

Tempe has 1,824 properties. Over the last 5 years, Houses in Tempe have seen a 36.40% increase in median value, while Units have seen a 49.59% increase. As at 30 November 2024:

  • The median value for Houses in Tempe is $1,704,050 while the median value for Units is $1,016,766.
  • Houses have a median rent of $885 while Units have a median rent of $600.
There are currently 2 properties listed for sale, and 6 properties listed for rent in Tempe on OnTheHouse. According to CoreLogic's data, 63 properties were sold in the past 12 months in Tempe.

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