Two beachside properties on Sydney's Collaroy Beach on the market
Two beachside properties on Sydney's Collaroy Beach are being offered to the market for the first time with price expectations over $10 million.
The properties, 1 Alexander Street and 4 Collaroy Street are on the market as a consolidated 2,570sqm development site.
Number 1 Alexander Street is a three level apartment block featuring five residential units, a storage unit and three retail stores.
The 4 Collaroy Street property si the site of the Sydney Beachouse YHA which contains 65 rooms and a swimming pool. It has dual street access to both Collaroy and Alexander streets. The combined gross income of the two properties totals $610,200 per annum.
CBRE’s Aaron Arias, Toby Silk and Nicholas Heaton have the sale.
Toby Silk said Collaroy has become a highly sought after market, with house prices more than doubling since 2010.
"Given these properties have never been offered before and the size of the holding, we expect significant interest from developers who are seeking to establish a landmark, mixed use development in the heart of the Northern Beaches,” he said.
The site is available for sale through expressions of interest, closing 31 May, 2017.
