Elbon Arcade, the Double Bay trophy commercial property, listed for sale
Joel RobinsonDecember 7, 2020
Elbon Arcade, a commercial trophy asset in the heart of Double Bay, has been listed for sale.
The property at 402 New South Head Road comprises 10 commercial tenancies and currently brings in a net income of $385,000 per annum.
It is being offered for the first time in nearly four decades.
The likes of cafe Elbon Coffee, LA Spa and Nails and mens hair stylist Testarossa are among the tenants, as well as a number of office spaces. It is being offered fully leased.
Colliers International agents Matt Pontey, Miron Solomons and Nick Lumley have an October 17 auction.
They suggest the three level property on 256 sqm is ready to refurbish, redevelop or reposition. It has a 720 sqm gross building area.
Joel Robinson
Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.