Mosman's Basil Nut restaurant premises set for auction
The home of an established Mosman restaurant, Basil Nut, is set to go under the hammer.
CBRE’s Jason Lowry, Nicholas Heaton and Toby Silk have been appointed to sell the 928 Military Road, Mosman property on behalf of Richard Lingard.
With 54 square metres on title, the restaurant has operated for over a decade.
The property is being sold with over six years remaining on the current lease, providing potential owners with a strong income-generating investment.
Mr Silk said, “compared to current bank term deposit rates at less than 1.3%, a tenanted investment such as this with a core following, strong location and built-in rental growth has a lot of appeal.”
“This property is the perfect offering for an investor looking to take advantage of traditional bricks and mortar real estate coupled with the growing online delivery market. The restaurant is full every night and the online delivery is booming,” Mr Silk commented.
It is set for auction on the 26th of November.