INVESTORS have a superb opportunity to purchase an exceptional ground-floor trophy asset offered to the market for the first time since it was constructed in 2005 as 4/103 Ewos Parade in Cronulla heads to auction on-site on Thursday 15th April.
This premium asset is on the blue-chip South Cronulla peninsular and is located directly across the road from Shelley Beach, providing an exceptional outlook from this quality establishment.
The property is being marketed by Ray White Commercial Greater South Sydney Director Brad Lord.
“This is an absolutely outstanding opportunity to purchase one of the best investments in the Sutherland Shire,” Mr Lord said.
“This premium lifestyle investment is offered for the first time to market and presents astute investors a fantastic opportunity to add this trophy asset to their existing investment portfolio”.
“This striking building was constructed in 2005 which was the start of the gentrification of Cronulla with many buildings following the lead of its developer since its construction.”
“Upon completion, the ground floor was reserved for the newest in casual fine dining and was appropriately named ‘The Nuns Pool’.
“The Nun’s Pool has been an established institution for many South Cronulla and Sutherland Shire locals for over 15 years.
“The solid business has a further three years* remaining on the current lease which has an expiry of March 2024 and provides an option to extend for a further five years to 2029.”
Mr Lord said the business first opened back in 2005 and since opening, had continued to grow in popularity.
“The then restaurant owners chose the name (The Nun’s Pool) as a nod to Cronulla’s rich history with The Sisters of Mercy (Parramatta) who in 1924 purchased two properties for their residence and convent,” he said.
“In the years the nuns occupied the properties, they were seen by many locals walking down to the small rock formation below where they bathed particularly during the warmer months.
“A concrete wall was built at the rear of the rock formation which became a sea pool for the Nuns for many years; however, in 1948 the Council deemed the pool to be a health hazard and as such the wall was removed.
“While the rock formation was never formally named the locals aptly referred to it as The Nun’s Pool and thus the name continues.
“The properties purchased by The Sisters of Mercy were then removed and the now prominent Stella Maris Aged Care Facility built and opened in its place in 1987.
“The property is still owned by The Sisters of Mercy today and the facility is operated by St Vincent’s Health Australia and was refurbished in 2013, increasing its capacity for 72 beds catering for high, low and palliative care.”