Diverse Opportunity for Trade Owner-Occupier/Commercial Investor/Residential Developer

Wolf Property is proud to present 53 Humphrey Street, a diverse offering that will appeal to trade owner-occupiers, commercial investors and residential developers.<br/><br/>53 Humphrey is a 903 sqm allotment that is zoned general residential, and benefits from commercial use licencing. The property has been completely repurposed by the current owner in the last 12 months to be suitable for a variety of trade businesses. Those with an eye for detail will appreciate subtle touches such as the nail strip facade, and the early growth of Pittosporum that will eventually line the entrance; as well as the practical benefits of a fully fenced, flat block that has substantial access and space for vehicles/machinery.<br/><br/>The improvement has a total floor area of 290 sqm, this includes: a fully lined office, a completely flat, plumbed elevated stage/work area; a spray booth; substantial fixed workbenches, cabinetry, power points and storage; dust extraction throughout; electric roller door; 3 phase power; high-bay lighting; sealed floors; CCTV and digital lock entry; and a separate staff area, which includes a kitchenette, a mezzanine bed and an adjoining bathroom, complete with shower.<br/><br/>The Vendor has recently executed a 1 + 1 + 1 lease to himself on the property at a return of ~$46,800 p/a (net of outgoings, including GST). The Owner is flexible on the exercise of the options depending on the desire of the Purchaser. <br/><br/>Future residential development should also be considered, given the general residential zoning of the property. New Norfolk is a rapidly growing suburb, with the median sale price of homes in the area increasing in excess of 10% between 2021 and 2022. With all necessary amenities such as schools, medical facilities, a library and eateries.<br/><br/>Please contact Matthew on 0429 229 087 or Cam on 0475 002 814 for further information, or to inspect.<br/><br/>*The Vendor reserves the right to accept an offer prior to the Expressions of Interest closing date, 3 March 2023.<br/>