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12 Waters Rd - Pienza 13,099 SF Retail Condo Unit in Neutral Bay, NSW 2089
Investment Highlights
- Positioned in the Pienza Retail Village, 4 km from Sydney CBD, surrounded by affluent demographics and major lifestyle amenities.
- Equipped with robust building services and premium-grade compliance to meet modern tenancy requirements.
Executive Summary
Pienza Neutral Bay is a recently completed mixed-use development located at 12 Waters Road in Neutral Bay, NSW. The project combines residential apartments with ground-floor retail spaces, creating a village-style environment in the Lower North Shore. Designed by SJB and delivered by Central Element, the development includes 37 residences positioned above retail space. The residential component consists of one-, two-, and three-bedroom apartments with features such as open-plan layouts, private balconies, and high-quality finishes. Communal amenities include a rooftop swimming pool, landscaped gardens, outdoor barbecue areas, and a gym. The design emphasizes wellness and sustainability, achieving WELL Certification standards.
1 Unit Available
| Unit Size | 13,099 SF | NOI | $642,334.50 |
| Condo Use | Retail | No. Parking Spaces | 47 |
| Sale Type | Investment |
| Unit Size | 13,099 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| NOI | $642,334.50 |
| No. Parking Spaces | 47 |
Description
CBRE in conjunction with Ray White Commercial Sydney North are pleased to offer to the market, Dan Murphy's Neutral Bay, a premium liquor destination at the heart of Sydney's most affluent lower North Shore community, located at 12 Waters Road, Neutral Bay (Sydney) NSW for sale via Expressions of Interest.
Sale Notes
Dan Murphy’s Neutral Bay presents a rare chance to secure a newly constructed, blue-chip retail investment within Sydney's affluent Lower North Shore. Situated at 12 Waters Road in the Pienza Retail Village, this property is anchored by Dan Murphy’s, a wholly owned subsidiary of ASX-listed Endeavour Group and the country’s leading liquor retailer with over 280 locations and annual revenue of $12.1 billion.
The asset features a long 10-year initial lease term to December 2035, complemented by substantial options extending to 2060, and underpinned by fixed 3% annual rental increases to ensure predictable income growth. The tenancy occupies approximately 1,217 m² in Dan Murphy’s latest corporate design, supported by 47 secure basement car spaces currently managed by InterPark, providing additional revenue opportunities.
This property is the only newly built Dan Murphy’s delivered in inner-city Sydney since 2017 and one of just two stores within 4 km of the CBD. Located alongside premium operators such as Body Love and Wholegreens Bakery, and proximate to major amenities including Coles, Woolworths, and Redlands School, the site benefits from a vibrant local marketplace. Net income is approximately $891,574 per annum plus GST with significant depreciation advantages from brand-new construction.
Property Facts
| Total Building Size | 113,043 SF | Typical Floor Size | 16,146 SF |
| Property Type | Multifamily (Condo) | Year Built | 2025 |
| Property Subtype | Apartment | Tenancy | Single |
| Building Class | B | Lot Size | 0.32 AC |
| Floors | 7 |
| Total Building Size | 113,043 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 7 |
| Typical Floor Size | 16,146 SF |
| Year Built | 2025 |
| Tenancy | Single |
| Lot Size | 0.32 AC |
Amenities
Site Amenities
- Courtyard
- Fitness Center
- Pool
- On-Site Retail
- Roof Terrace
Presented by
Company Not Provided
12 Waters Rd - Pienza
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