Office suite with Harbourside views up for auction with $4 million expectations

An office suite in Sydney with Harbourside views is going up for auction on May 23 with price expectations of $4,000,000.

The property at Suite 12, Level 3 at Walsh Bay, 13 Hickson Road, is securely leased to a government-owned business and ideal as an investment property, according to its description. 

Sitting in the iconic Walsh Bay Piers precinct, the property has classic warehouse features with urban chic appeal. It has a split level configuration with interconnecting stairs.

The total area is about 375 sqm.

The current tenancy expires in November 2019 and comes with fixed 3% annual rental increases. No vacancy for 6.5 consecutive years.

Overlooking the proposed $150 million Arts precinct, the property is surrounded by popular restaurants and bars and is walking distance to Barangaroo and Circular Quay.

The property earns a net rental income of $257,699 per annum with outgoings at $62,108 per annum approx, translating to a net income of $195,591 per annum.

The listing agents are Tim Noonan and Ross Ladd of Noonan Property.