Bathurst building takes to market

16 July 2018

A landmark retail/commercial building in the heart of Bathurst has hit market offering an exceptional opportunity to secure a prime investment property.

Savills Australia Robert Lowe in conjunction with Raine and Horne Bathurst, Matt Clifton are appointed with the sale of the property located at 126 William Street, Bathurst and said they are expecting interest from a variety of buying groups.

“This sale represents an outstanding opportunity for either investors or potential owner occupiers to secure a landmark heritage building,” Mr Lowe said.

The property is located in a growing regional New South Wales city centre, close to Sydney and Mr Lowe says the property is ideally situated.

“The property has prime main road exposure and is in close proximity to two shopping centres and within the commercial core of Bathurst,” he said.

The property comprises a two-storey retail/commercial space which was fully renovated in circa 2007-2008 with the ground floor currently leased to a restaurant for three years with option to renew leaving first floor commercial offices currently vacant.

“Currently, the ground floor restaurant pays a total of $45,502 per annum in rent whilst the first floor is expected to pay $30,000 per annum in rent,” Mr Clifton said.

The 373sq m free-standing site provides for an exceptional investment opportunity and Savills Australia together with Raine and Horne Bathurst offer this sale as a rare opportunity to acquire a smaller landmark property in an extremely vibrant regional city of NSW. It is suitable to both investors or potential owner occupiers, Mr Lowe said.

The ground floor comprises an area of 302sq m with open plan dining areas and a covered court yard to the rear with amenities, whilst the first floor provides superb commercial space of 202sq m with ground floor entry and open plan office area and five separate office rooms.

“Bathurst is a robust regional centre with strong economic growth and an estimated Gross Reginal Product of $2.2 billion which represents 0.4 percent of the state’s Gross State Product,” Mr Lowe said.

The Regional Council is aiming to protect heritage retail clustering in the Bathurst region highlighting the substantial economic involvement that the council aims to partake within such properties.

In addition to further funding, the NSW Government has announced a $28 million upgrade to the Great Western Highway with intention to link the central west together with greater Sydney.

“The transport masterplan is an exceptional way to integrate between inner Sydney and regional cities such as Bathurst, boosting the real estate and leasing market within Bathurst” Mr Clifton said.

This property is offered for sale via public auction, held on Tuesday 14 August 2018 at Sydney Auction Centre.

Click here for more information on Savills Metropolitan & Regional Sales.


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