111 Norton Street, Leichhardt, NSW, 2040

TROPHY FREEHOLD INVESTMENT WITH DEVELOPMENT UPSIDE

• Strong passing income with 7 years remaining on lease to Chemist Warehouse.
• Significant inner city block occupying circa 572m² of land.
• Ability to add value by future redevelopment (STCA).

Mercer Property is delighted to offer to the market for sale, via public Auction; 111 Norton Street, Leichhardt.

Located on a commanding corner block in the heart of Leichhardt village, 111 Norton Street consists of a single two story commercial building with adjacent car park. The property has long been the home of Chemist Warehouse (since 2007) and provides a long 10-year lease to the national pharmaceutical retail group (commenced 2017).

Boasting 572sqm (approx.) of land, and providing a 30-metre frontage to Norton Street and 18-metre frontage to Wetherill Street, the property's dual street frontage offers significant flexibility and upside for future redevelopment (STCA) on the undercapitalised block.

The property is zoned as B2 Local Centre, which allows for a broad range of commercial, retail and residential uses. It's an ideal property for a long term investor looking for future value add opportunities.

111 Norton Street, Leichhardt is being marketed for sale via public Auction and inspections are strictly by appointment.

Auction Venue: AuctionWORKS - Mezzanine Level, 50 Margaret Street, Sydney
Auction Time: 10:30am sharp
Auction Date: 17th March, 2020

A comprehensive information memorandum & sales contracts can be made available through the exclusive agents;

Matt Davoren: 0410 488 437
Tom Speakman: 0412 891 330

Remember to mention you found this property on DevelopmentReady