IM - 1&2/2 Eastbourne Ave, Bellambi

I N F O R M AT I O N M E M O R A N D U M

1 & 2/2 EASTBOURNE AVENUE

UNRIVALLED, MARKET LEADING REAL ESTATE SERVICES

BELLAMBI

CONTENTS

EXECUTIVE SUMMARY 03 WELCOME 05 KEY HIGHLIGHTS 07 OPPORTUNITY & LOCATION 09 LOCATION MAP 11 METHOD OF SALE 13 ZONING SUMMARY 15 ANNEXURE A IDENTIFICATION SURVEY 17 ANNEXURE B CONTOUR SURVEY 19 DISCLAIMER 20

EXECUTIVE SUMMARYS

ADDRESS 1 & 2/2 EASTBOURNE AVENUE, BELLAMBI

TITLE

LOT 1 & 2 IN STRATA PLAN 41054

DESCRIPTION

A F U L LY L E A S E D M I XE D U S E A S S E T W I T H VA L U E ADD POTENTIAL IN THE NORTHERN SUBURBS.

LOCATION

LOCATED ON A PRIME CORNER SITE IN A B E A C H S I D E S U B U R B W I T H H I G H D A I LY PA S S I N G T R A F F I C O N LY A P P R OX . 7 K M N O R T H O F WOLLONGONG.

NET RENTAL ZONING

03

LAND AREA

INFORMATION MEMORANDUM

$68,427 PA NET + GST R2 – LOW DENSITY RESIDENTIAL

SIZE: 323M2

DIMENSIONS

8.32M X 38.23M

SALE PROCESS

PRIVATE TREATY FOR SALE $1,495,000

1 & 2/2 EASTBOURNE AVENUE

BELLAMBI

*APPROX. BOUNDARY ONLY

WELCOME

MMJ Real Estate is delighted to present 1 & 2/2 Eastbourne Avenue, Bellambi, to the market.

This outstanding property is scheduled for sale.

INFORMATION MEMORANDUM

05

TIM JONES MMJ Real Estate Wollongong

MICHAEL FARINA MMJ Real Estate Wollongong

0409 456 299

0421 522 713

tim.jones@mmj.com.au

michael.farina@mmj.com.au

*APPROX. BOUNDARY ONLY

1 & 2/2

EASTBOURNE AVENUE, BELLAMBI

KEY HIGHLIGHTS

• PRIME CORNER SITE WITH SHOPFRONT AND RESIDENTIAL DWELLING •

TOTAL RENT $68,427 P. A . NET + GST

•

COMMERCIAL SUITE LEASED UNTIL DEC. 24 + OPTIONS •

MASSIVE POTENTIAL UPSIDE

INFORMATION MEMORANDUM

07

OPPORTUNITY

1 & 2 / 2 Eastbourne Avenue presents a fully leased asset featuring generous dual street f rontage, existing residential and commercial improvements plus superb value-add prospects within a popular northern suburbs location.

Prospective purchasers can consider a variety of scenarios to add-value to the asset through splitting the current residential 5 bedroom dwelling into two units as well as some refurbishment and active building management.

Given the limited commercial opportunities within the Bellambi precinct, it presents an essentially f reehold commercial property investment with existing tenancies till 2024 plus options.

The building comprises of two separately strata titled units including a 92sqm commercial retail shop and 191sqm residential dwelling. Uniquely offered in one line, its appeal is evident for prospective owner occupiers and investors due to its diverse income f rom multiple streams ensuring that the risk of extended vacancy will be low.

LOCATION

The property is proudly positioned on the corner of Eastbourne Avenue and Pioneer Drive, Bellambi’s main thoroughfare which provides connectivity to the area as well as a signif icant volume of daily passing traff ic.

Featuring a total land area of 323m2, the property spans over a wide 38 metre f rontage to Pioneer Drive, which is also on the footsteps of Bellambi’s retail core offering a boutique variety of shops including a service station, bowling club, Pharmacy, Health Centre, café and beauty salon.

The site’s strategic location is approx. 7km North of Wollongong and is positioned on the eastern side of the distributor which is underpinned by its surrounding strong residential market f rom its proximity to the beach only moments away.

INFORMATION MEMORANDUM

09

*APPROX. BOUNDARY ONLY

LOCATION MAP

BELLAMBI TRAIN STATION BELLAMBI BOWLING CLUB

H O LY S P I R I T COLLEGE

L O C AT I O N // B E L L A M B I

PIONEER DRIVE

11

INFORMATION MEMORANDUM

SUBJECT PROPERTY 1 & 2 /2 E AST BOU RNE AVE NU E , BE LL AMBI

*APPROX. BOUNDARY ONLY

1 & 2/2 EASTBOURNE AVENUE

BELLAMBI

*APPROX. BOUNDARY ONLY

METHOD OF SALE

The property is to be sold by private treaty.

Contact the selling agents for more information.

TIM JONES, MANAGING DIRECTOR MMJ Real Estate Wollongong 0409 456 299 tim.jones@mmj.com.au

MICHAEL FARINA , COMMERCIAL SALES ASSOCIATE MMJ Real Estate Wollongong

0421 522 713 michael.farina@mmj.com.au

INFORMATION MEMORANDUM

13

ZONING SUMMARY

Zone R2 1 • •

Low Density Residential

Objectives of zone To provide for the housing needs of the community within a low density residential environment.

To enable other land uses that provide facilities or services to meet the day to day needs of residents.

2 Permitted without consent Home occupations 3 Permitted with consent Attached dwellings; Bed and breakfast accommodation; Boarding houses; Boat launching ramps; Centre-based child care facilities; Community facilities; Dual occupancies; Dwelling houses; Environmental facilities; Exhibition homes; Exhibition villages; Group homes; Health consulting rooms; Home-based child care; Home businesses; Home industries; Hospitals; Hostels; Information and education facilities; Jetties; Multi dwelling housing; Neighbourhood shops; Oyster aquaculture; Places of public worship; Pondbased aquaculture; Recreation areas; Recreation facilities (indoor); Recreation facilities (outdoor); Residential flat buildings; Respite day care centres; Roads; Semi-detached dwellings; Seniors housing; Shop top housing; Signage; Tankbased aquaculture; Veterinary hospitals 4 Prohibited Any development not specif ied in item 2 or 3

21 23

57

INFORMATION MEMORANDUM

15

*APPROX. BOUNDARY ONLY

ANNUAL STATUTORY OUTGOINGS

COMMERCIAL (1/2 EASTBOURNE AVE)

RESIDENTIAL (2/2 EASTBOURNE AVE)

COUNCIL

$1,724.40

$1,777.60

WATER

$1,041.52

$603.96

INSURANCE $2,246.47

$1,251.47

SUB TOTAL

$3,633.03

$5,012.39

TENANCY SUMMARY

RESIDENTIAL (2/2 EASTBOURNE AVE)

TENANT

KOTEZ CHICKEN SHOP

NIL

PASSING INCOME

$48,369.15 P/A + GST

$28,704 P/A ($552.00 PER WEEK)

LEASE 11.12.2019 COMMENCEMENT DATE

19.12.2021

LEASE 10.12.2024 EXPIRATION DATE

TBA

17

INFORMATION MEMORANDUM

COMMERCIAL (1/2 EASTBOURNE AVE)

1 & 2/2 EASTBOURNE AVENUE

BELLAMBI

INFORMATION MEMORANDUM

17

DISCLAIMER

The agent(s) for themselves and the vendors of the property whose agent(s) they are, give notice that: (i) The particulars are set out as a general outline only for the guidance of purchasers and do not constitute an offer or contract. (ii) All descriptions, dimensions, references to conditions and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but purchasers should notO rely them as statements or FLO Ron P LA NS presentations of fact, but must satisfy themselves by inspections or otherwise as to the correctness of each of them; and a draft Agreement for Sale of Land which is available for inspection at the offices of the Agent(s). In the event of any inconsistency between this Property Report and the Agreement for Sale of Land, the provisions of the Agreement for Sale of Land shall prevail. (iii) No person in the employment of the agents has any authority to make or give any representation or warranty whatsoever in relation to these properties. (iv) The Agent(s) and the vendor, each of their associates and every person involved in the preparation of this Information Memorandum expressly disclaim any liability on any grounds whatsoever for any direct or consequential loss or damage (whether foresee able or not) which may result from any party acting on or relying upon all or any part of the information contained in the Information Memorandum notwithstanding any negligence, default or lack of care.