292 Lyons Road, Russell Lea, NSW 2046

TRIPLE THE POTENTIAL ON 847SQM

Invest in growth capacity and development potential in a high profile main road location in this established Inner West residential precinct. This row of three traditional two-storey commercial terraces with upper level apartments are set on an 847sqm site with side driveway to rear parking for at least 16 vehicles. In a local retail strip on the major arterial road between Drummoyne and Five Dock town centres, the property is Zoned E1 Local Centre under the Canada Bay LEP 2013 with no heritage or conservation restrictions. Currently only utilising under 60 per cent of the possible FSR, the property returns solid yields with scope for rental increases to market, space to expand the current lettable area (STCA), redevelop or land bank for a larger development site. Think outside the square to maximise the best & highest use of this substantial site in a key Inner West location with easy access to the M4, West Connex, M8 and 9km to the City.

Key Highlights

+ Approx 847sqm site Zoned E1 Local Centre under Canada Bay LEP 2013

+ 3 adjoining two-storey traditional brick commercial & residential terraces

+ 23 m approx. frontage to Lyons Road, shared driveway to rear parking & storage

+ 290 & 292 adjoining commercial premises with total floor area of 192sqm

+ Leased to established veterinary clinic to 2027, reviews to CPI, 3 year option

+ Current set up as offices with kitchen & 4 WCs. Easy reversion to 2 properties

+ Shop 294 with 82sqm internal area, operating as a food service premises

+ 2 upper level 2-bedroom apartments plus 1-bedroom unit with car spaces

+ Residential units leased until 2026 returning approx. $88,000 per annum

+ Potential gross annual income for all properties well in excess of $300,000

+ Local retail strip with popular food shops, takeaways & professional services

+ Established residential area close to waterfront Bay Run, schools & City bus

+ 1.5km to Five Dock town centre, health & beauty, food shops, cafes & dining