12 Waters Road
Neutral Bay, NSW 2089

Overview

Brand New Sydney Dan Murphy's | Long 10 Year Lease to 2035 | Trophy Lower North Shore Investment

This commercial retail property is located at 12 Waters Road, Neutral Bay, within Sydney's affluent Lower North Shore. It represents a premium investment opportunity featuring a brand new large-format tenancy occupied by Dan Murphy's, a leading national liquor retailer.

Positioned in the landmark Pienza Retail Village, this asset benefits from a long-term lease agreement with a blue-chip ASX-listed tenant, providing a secure and predictable income stream. The lease extends for 10 years until 2035, with options to extend to 2060, and includes compounding fixed 3% annual rental increases, ensuring steady growth in rental income.

The property comprises a newly constructed building with a floor area of 1,104 square meters, designed in line with Dan Murphy's latest corporate standards. It is the only new-build Dan Murphy's store delivered in inner-city Sydney since 2017 and one of only two stores within 4 kilometers of the Sydney CBD, highlighting its strategic location and market significance.

Additional features include 47 secure basement car spaces, enhancing tenant functionality and convenience. The retail village hosts premium operators such as Body Love, Wholegreens Bakery, and Fresh Hospitality, contributing to a vibrant retail environment.

The surrounding area is well-serviced by major retail, lifestyle, and educational amenities, including Coles, Woolworths, Redlands, and The Oaks Hotel, which is notable for a recent significant hotel transaction valued at $140 million. Neutral Bay is recognized as one of Sydney's most affluent and tightly held suburbs, characterized by strong demographics and high barriers to entry, making this property a trophy investment.

Investors can also benefit from significant depreciation advantages associated with the brand new construction. The commencing rent is approximately $993,600 per annum plus GST, reflecting the property's strong income potential.

This property is offered for sale via Expression of Interest, with the closing date set for 3pm AEST on Wednesday, 29 April 2026. Interested parties are encouraged to contact the agents for further information or to arrange an inspection.

Location