Star Capital Seafood Chinese restaurant premises in Chatswood for sale

A prime retail investment in the heart of Chatswood is for sale. 

It is leased to Star Capital Seafood Chinese Restaurant with a long term 15 year lease that began on March 2013.

Located at 399-403 Victoria Avenue, the property is next to the Chatswood Concourse Theatre and Library.

Westfield Shopping Centre is directly opposite from it along with Chatswood Chase Shopping Centre only 100 metres away.

However the property is currently underdeveloped. It last sold in 2011 at $10.5 million.

But it has the potential to increase the current floor space to allow a mixed use building of 1,740 sqm subject to council approval.

The NLA is 560 sqm with a land area of 696 sqm featuring a rear lane access.

Expressions of interest close on December 1 through Colliers International agents Steam Leung and Henry Burke.

A development company associated with telco giant TPG's Teoh family has acquired the nearby pair of commercial buildings at 282 and 284 Victoria Avenue for about $40 million.

The buildings were sold by he Darin family.

The two assets, located at prime sites opposite Chatswood Chase Shopping Centre, return a gross annual income of $2.3 million.

They also have future residential and mixed-use development potential sitting on 2175 sq m.