CBA's Wollongong Mall premises to go under the hammer
Staff reporterDecember 8, 2020
The Wollongong Mall building leased to CBA is set for October 23 auction.
Located at 141-145 Crown Street, the three level building is leased to the bank until 2022 with options to 2032.
The building was built in 2012 to CBA's corporate standards.
Positioned in the Central CBD near Wollongong train station, the 858 square metre building has double retail frontage to Crown Street Mall.
The property is set on a 569 square metre site an hour south of Sydney.
The net income on the property is currently $610,382 per annum plu GST and the listing, held by Burgess Rawson, notes the building has "substantial tax depreciation benefits".
In 2010, the holding sold for $3.41 million.