Prime Freehold Mixed-Use Gem in Potts Point

Details

I.B Property are pleased to present 178 Victoria Street – a prominent three-storey mixed-use freehold property located on the highly popular ‘eat street’, currently configured as a two-storey licensed restaurant/bar with an apartment above.

Leased to the highly rated Spanish bar-restaurant Lola Tapas Bar Potts Point, it features a fully equipped commercial kitchen with a grease trap and exhaust supported by a liquor license to serve alcohol. Furthermore, the two-bedroom apartment found on the second floor provides additional secure income streams where 64% of Potts Point’s population is currently renting. The premises also benefit from its B4 Mixed Use zoning, allowing for a multitude of uses and providing the opportunity to refurbish and reposition, occupy and/or invest.

This property is conveniently positioned at the heart of Kings Cross, enabling tenants and prospective owner-occupiers to capitalise on the plethora of local cafes, restaurants, shops, and entertainment venues in the area. The property is underpinned by key investment fundamentals with its ease of connectivity and significant signage opportunity. Plenty of transport options are readily available, including council parking and Kings Cross Station. Public transport can be easily accessed via the Train Station and bus stops on Darlinghurst Road, connecting to Bondi Junction, Sydney CBD, and the greater Sydney area.

Key Highlights:
/ Currently configured as a two-storey licensed restaurant/bar with an apartment above with separate access
/ Combined total Floor Area of 300sqm*
/ Appealing tenanted investment returning a gross passing income of $151,593 pa with the ability to revert rents to market
/ Flexible zoning allowing for a multitude of uses, providing the opportunity to refurbish and reposition, occupy and/or invest
/ Fully equipped commercial kitchen with grease trap and exhaust fan
/ Situated only moments from Kings Cross Station, providing exceptional foot and vehicle exposure

178 Victoria Street, Potts Point will be for sale via Expressions of Interest closing on December 6, 2023 at 4:00pm.

For more information please contact the exclusive selling agents Steffan Ippolito 0403 347 111 and Dimitrios Franze 0406 558 855.