Opportunity to freehold a cross lease site

1 and 2/57, Shakespeare Road, Milford, North Shore City

Tender

Proposed Usage
Retail
Floor Area
290.00 m²
Land Area
835.00 m²
Description:
Property ID
1c66r53

• 835sqm total site area (two cross lease components)
• Mixed Housing Urban with existing office/medical consent
• 130sqm commercial premise + 160sqm rear house (all areas approx.)
• Current income $53,840 net pa (Unit 1) + potential income from Unit 2 (owner occupied)

The subject property presents a rare opportunity to acquire a character bungalow, with existing use rights for medical use, on Milford's medical mile with the potential to secure the rear property and freehold the site. Unit 1 is currently tenanted by a Chiropractor, which is due to vacate in July 2019. Internally the space totals approximately 130sqm of consulting rooms and ancillary space. The rear home is solid brick construction, with three generous bedrooms and an internal garage. It is currently owner occupied.

Located in close proximity to the North Shore Hospital and the Milford retail strip, this site presents an opportunity to add significant value or develop a strategically located site.
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Milford Area