INVEST, OCCUPY OR DEVELOP - $3000000

Description

A freestanding two storey building with a gross floor area of approximately 758m2 with a site area of 379m2. Situated on the corner of Christie Street and Atchison Lane, St Leonards. Prominently located in the heart of St Leonards, directly opposite the pedestrian entrance into St Leonards Railway Station and just 50 metres from the Pacific Highway. St Leonards has undergone a major commercial and residential boom in recent years, with the construction of The Forum over and adjacent to the Railway Station containing some 800 home units. In addition there have been many new residential developments by groups such as Australand, Multiplex and The Stockland Group, as well as numerous private developers bringing the total inventory of new retail, commercial and residential units in the immediate vicinity to several thousand. The improvements consist of a two storey building occupied by the famous Nilgiri's Indian Restaurant with both dine-in and take-away services. Prior to Nilgiri's the building was extensively renovated and traded as a Japanese Restaurant. The building can be continued in its current use, converted to showroom and office use or amalgamated as part of a major mixed use residential and commercial/retail development. The current lease to Nilgiri's Fine Foods Pty Limited expires on 24 August 2008 and there is no option. We understand Nilgiri's will be interested in discussing an extension of their lease with the new owner.