A freehold building leased to one of Australia’s leading Banks and a vacant parcel of land are on the market in the heart of Moruya, on the far south coast of New South Wales.
57-59 Queen Street comprises a grand old two storey building with a total lettable space of approximately 331sq m with an additional 963sq m of developable land. The major long-term tenant on the lower level is CBA, with a lease expiry in 2023 with a 3 year option. The five (5) offices upstairs are going to be let to a high-profile legal firm in the area.
The vacant land is zoned B2 with side street access and pedestrian access from the Main Street. The block is near level and has great exposure.
According to Nick Lower, State Director - NSW, Metropolitan & Regional Sales at Savills Australia, who is selling the property with colleagues Selin Ince and Ollie Ridley, both properties are a great investment with a sound current and future return, and there is an opportunity for owner occupiers with additional income.
“The town of Moruya was founded in 1851 and used to be a big Gold town, so there is a lot of history and a sense of community in the area, with many residents living locally for well over 50 years” he said.
Moruya is a town located on the far south coast of New South Wales, Australia, situated on the Moruya River. The Princes Highway runs through the town that is approximately 305 kilometres south of Sydney and 175 kilometres from Canberra. The median age of residents is 51 years old.