Manly

68-70 Pittwater Road

Sold $4,500,000
335 sqms

Key details

Property Type Leisure
Land Area 362 SQM

Highlights

Manly Freehold - Invest, Occupy or Develop

This prime commercial opportunity is perfect for developers, owner operators or investors, with ample scope for future development (STCA). Manly Astra Backpackers Hostel has been the longest-serving guest house in the area, operating since 1867, offering affordable short-term and long-term accommodation. It's positioned one block from world famous Manly Beach at 68-70 Pittwater Road, Manly.
This prime commercial opportunity is perfect for developers, owner operators or investors, with ample scope for future development (STCA). Manly Astra Backpackers Hostel has been the longest-serving guest house in the area, operating since 1867, offering affordable short-term and long-term accommodation. It's positioned one block from world famous Manly Beach at 68-70 Pittwater Road, Manly.

The property comprises two interconnected two-storey semi-attached terraces incorporating 13 rooms and is licensed for 25 guests. The 362sqm double block includes two north facing outdoor alfresco spaces, kitchen, and a self-contained two-bedroom owner/manager's quarters. The opportunities with this property are many and varied with possibilities including owner operating the hostel; putting a manager in the hostel and investing; converting to one, two or more residential homes; or full redevelopment.

The subject property fronts one of the main arterial roads through Manly to The Corso, harbor, beachfront and to Sydney Road taking you to the city. Manly is the main tourist hub of the Northern Beaches which receives international travellers searching for a taste of Sydney's idyllic beachside lifestyle.

Key attributes:

*Land area 362sqm; Building area 335sqm
*Prime Manly real estate with future scope to capitalise
*Longest standing budget accommodation in this popular tourist hub
*13 guest rooms
*Rooms are a choice of singles or doubles accommodating up to 25 guests
*Self-contained two-bedroom manager's quarters with separate lounge/dining, bathroom
*Central eat-in kitchen with two five burner gas cooktops, commercial fridges, cabinetry
*Private North facing courtyard, plus an additional east facing alfresco area at the rear
*Male/female amenities on each level, shared laundry with two coin-operated washers
*Reception/office area secure storeroom, wireless internet, two front entries
*A stroll from a choice of restaurants cafes, laundromat, gyms, pilates studios and boutiques
*Within walking distance to Manly Ferry Wharf taking you to the CBD in under 20 minutes
*Less than 150m from Manly Beach, 200m approx. from Manly Oval and Ivanhoe Park
*Outgoings: $37,752 approx per annum

Location

Manly is a glamorous harbour-side suburb and the gateway and tourist hub of the Northern Beaches. Many of the homes and apartments here have incredible views over the world-famous beach, Sydney Harbour or even towards the CBD. Given Manly's close proximity and ease of access, to the CBD it is the area of choice for those looking to live close to work whilst still enjoying the beach lifestyle and being surrounded by restaurants, cafes and boutique shopping options.

For more information or to arrange an inspection contact Vincent West 0403 444 000.

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