Mosman’s Sheridan building sells
Investors have traded a historic, two storey fully leased Mosman asset.
The $11.5 million result for 623-625 Military Road, at the V-intersection of Mandalong Rd and Field Way, reflects a 3.5 per cent net passing yield.
With 419 square metres, Sheridan occupies the ground floor for retail.
Two other businesses rent upstairs as offices.
The 491 sqm block with side access has future airspace development upside, marketing agents, Colliers Tom Appleby, Joseph Lin with IB Property’s Dimitrios Franze and Steffan Ippolito, said.
According to records, the vendor paid $11.5m in September, 2021.
Also today we are reporting AirTrunk founder Robin Khuda’s development business paid $32m for a Mosman block with plans for luxury apartments.
Subscribe to our newsletter at the bottom of this page.
