ANZ premises in Mona Vale set for auction

ANZ premises in Mona Vale set for auction
Staff reporterOctober 15, 2018

An ANZ retail banking facility in Mona Vale is set for October 23 auction.

Situated at 10-12 Bungan Street, the building is leased to ANZ for 10 years until 2025 with options to 2040.

The building recently underwent building upgrades as well as an ANZ fitout to bring it up to corporate standards.

Net income on the property is currently $260,549 with 3.5% annual rent increases.

The tenant pays all outgoings.

The listing notes there is proposed zoning uplift allowing future development potential (STCA).

Set on a 294 square metre block, the two storey building last sold for $2.02 million in 2000.

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