CBD FRINGE BOARDING HOUSE INVESTMENT WITH DEVELOPMENT UPSIDE
Moxham Commercial is delighted to present to the market 37-39 Kembla Street, Wollongong. A boarding housing investment tightly held the heart of Wollongong CBD. The investment includes 2 freestanding boarding houses with strong rental + development upside.
A summary of highlights of the property are outlined below:
• Gross Annual Income: $323,000 + GST (3 year average) ^
• Potential Fully Leased Gross Income^^ $456,300*
• 39 rooms over a total building area of 652 sqm*
• Site area 1,350 sqm*
• In-fill residential development opportunity and delete point 5.
• 700m* from Wollongong Beach
• 850m* to Wollongong Central
• 1.4kms to Wollongong Station
• 3kms* to Wollongong University
*approx
^ Averaged over FY 21, FY22 and FY23
^^ Based on $225 per room annually
37-39 Kembla Street, Wollongong is offered for sale via Auction on Tuesday, 14th November 2023 at 10:00am (AEDT). The auction will be held at AuctionWORKS, Mezzanine Level, 50 Margaret St, Sydney NSW 2000.
For more information, please contact the selling agents:
Jeff Moxham
CEO & Founder
Moxham Commercial
0413 838 339
jeff@moxhamcommercial.com.au
Brian Prabaharan
Associate Director
Moxham Commercial
0402 827 779
brian@moxhamcommercial.com.au
Mark Shlemon
Principal
CENTURY 21 Partners
0426 202 202
mark.shlemon@century21.com.au
Commercial Investment Finance
