23 Belmore Rd 3,154 SF Retail Building Randwick, NSW 2031 $2,113,740 ($670.21/SF)

23 Belmore Road presents a rare opportunity to secure a DA-approved freehold property in the heart of Randwick’s bustling commercial and hospitality precinct. Zoned E2 Commercial Centre, the site offers exceptional flexibility for investors and developers, with existing approval for nine self-contained studio apartments above ground-level retail. New planning controls may allow for further enhancements to the current DA, subject to council approval.
The property occupies a high-exposure position along a major retail corridor, surrounded by national brands, cafés, and specialty operators. It benefits from consistent pedestrian activity and excellent connectivity, with frequent bus services to Sydney CBD and Bondi Junction, and the nearby light rail further improving accessibility.
Currently, the ground-floor restaurant is fully equipped and leased to a longstanding tenant under a demolition clause, providing holding income of approximately $105,000 per annum while offering future redevelopment flexibility. Proximity to Prince of Wales Hospital, UNSW, The Royal Shopping Centre, Coles, and Harris Farm Markets reinforces the property’s strong demand fundamentals and long-term growth potential.
This is an outstanding opportunity to acquire a well-located freehold asset with immediate income and significant upside through redevelopment or repositioning.