1 Listing

63 Cambridge Parade, Manly

- Increased lease with 2 tenants = $90k Gross P.A. - High-traffic site in the heart of Manly. - Successful Cafe with 3+3+3 Lease. - New Pilates Studio with 3+3+3 Lease. - 458sqm block with demolition/development potential (STCA). - Full info pack available on request. - GST unlikely to be applicable to purchase - enquire for further detail. Situated in the heart of Manly on Cambridge Parade, this freehold commercial property presents an incredible opportunity for investors, developers or owner occupiers. This block and building are in one of the most tightly held areas of the Bayside, this one having been in one family for over 50 years. A 140sqm* internal site with addition 30sqm* useable external space on a 458sqm block, the property is newly rented by two tenants sharing the building. The successful cafe, Cambridge Lane, occupies one side of the building, the kitchen and the laneway. The new Pilates Studio has re-fitted the other side of the building and will be operational soon. Both are on 3 year leases with 3 + 3 year options. Residing in a high-exposure area with plenty of foot traffic and a wide 11-metre frontage, the property offers outstanding appeal and a private driveway accesses the rear of the block, featuring parking for multiple vehicles. Offering endless opportunities, the option exists to retain the existing building, renovate or knock down and redevelop (STCA). With plans drawn for a new multi-use site featuring a commercial space downstairs and 2 apartments upstairs, the land parcel presents exceptional future potential. Freehold properties of this kind and in this position are truly rare, so don't miss your chance to secure this spectacular holding in Manly's beautiful bayside. Key features include: - Freehold building in the heart of Manly - 458sqm block with wide 11-metre frontage - High-traffic area on Cambridge Parade - Cafe dining room, kitchen, storeroom and toilet - Newly fitted Studio Space - Driveway with side access for rear parking - Outstanding development potential for a multi-use space - Plans drawn for a commercial building and 2 apartments *measurements approximate.